equity market overview - idbi mutual - january 2018-16... · equity market overview ... an employee...

Equity Market OverviewIndian equities ended the December month with strong gains driven by rationalization of GST rates on various items, BJP’s win in two state elections and comparatively better system-wide credit growth. The Indian markets rallied with Nifty 50 and Sensex gaining 2.97% and 2.74% respectively. Indian benchmark indices outperformed other major global indices such as Hang sang, Dow Jones and Nikkei. Amongst sectors, Metals, Auto, Healthcare, Consumer Durables and Realty were the key outperformers whereas Banks, Power and Oil & Gas underperformed. However, the narrowing of the gap in yield between India and US on account of the rate hike by the US Federal Reserve resulted in some capital outflow.

The Reserve Bank of India’s (RBI) monetary policy committee (MPC) voted 5-1 to maintain status quo on repo rate at 6%. The cash reserve ratio & statutory liquidity ratio were also left unchanged at 4% & 19.5% respectively. The RBI maintained its neutral policy stance. The RBI expressed concerns on rising fuel & food price inflation. While the GVA forecast was maintained at 6.7%, the inflation forecast for 2HFY18 was raised from 4.2%-4.6% to 4.3%-4.7%. The government also announced INR 730bn of additional borrowings (Rs.500bn through dated securities and Rs.230bn through T-bills), this would lead to fiscal deficit slippage which was earlier targeted at 3.2% of GDP in FY18.

IIP growth decelerated to 2.2% YoY in October from 3.8% YoY in September. The negative surprise in the October’17 largely came from mining which grew by only 0.2% YoY after a 7.8% YoY increase in the previous month. Manufacturing grew 2.5% YoY, down from 3.8% in the previous month. Electricity production grew 3.2% YoY, lower than previous month. However, Manufacturing PMI for Dec’17 rose to 54.7 versus 52.6 in Nov’17 indicating fastest growth in manufacturing output since Oct’16. GST collections for Nov’17 stood at INR 808bn, compared to INR 833bn in the previous month, lowest since the roll-out of the new tax regime mainly due to the rationalization of GST rates in November. Trade Deficit in November’17 remained elevated at US$13.8bn on account of rapid increase in commodity and consumption-oriented imports.

CPI inflation surged to a 15 month high of 4.88% YoY in November 2017, up from 3.56% in the previous month. The jump in CPI inflation was mainly led by higher vegetable inflation which increased to 22.5% in Nov’17 from 7.5% in Oct’17. Food & Beverage inflation rose to 4.4% YoY, compared to 1.9% in October’17—vegetables like onions (29% m-o-m) and tomatoes (24% m-o-m) contributed much of the increase given weaker supply from erratic rains. Core inflation too surged to 4.9% in Nov’17 from 4.6% in Oct’17. Also Housing inflation was higher at 7.4% YoY versus 6.7% in October’17. Similarly, WPI inched higher to 3.9% in November’17 from 3.6% in October’17.

Global commodities remained buoyant during the month with Brent Crude inching up further by 6.3% to $66.6/bbl. The rupee showed a mild appreciation of 0.91% during the month against the dollar to close at 63.87/USD.

January 2018

Source: Bloomberg/Internal Research

Ni�y 50

10226.55

10166.70

10252.10

10463.20

10531.50

10530.70

30-Nov 7-Dec 14-Dec 19-Dec 26-Dec 29-Dec 9900.00

10000.00

10100.00

10200.00

10300.00

10400.00

10500.00

10600.00

Global Indices

2.97%

2.74%

2.54%

0.18%

0.30%

1.84%

0.43%

-0.5% 0.0% 0.5% 1.0% 1.5% 2.0% 2.5% 3.0% 3.5%

NIFTY

Sensex

Hang Seng

Nikkei

Shanghai

Dow Jones

Nasdaq

Major Indices Change (%)

6.6% 7.5%

0.8% 5.1%

6.1% 5.8%

2.6% 2.2%

3.7% 3.6%

5.4% 5.7%

0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 6.0% 7.0% 8.0%

BSE RealtyBSE MetalBSE Bank

BSE ITBSE Auto

BSE HealthcareBSE Power

BSE Oil & GasBSE Cap Goods

BSE FMCGBSE Communication Technology

BSE Consumer Durables

2

Fixed Income OverviewMACRO Economic Data for the month:

As on 30/11/2017

As on 29/12/2017

10 year Gsec 7.06% 7.33%5year Corp bonds 7.45% 7.75%3 months Tbill 6.12% 6.15%3 month Cd 6.22% 6.27%Brent Crude $ 63.57 66.72Inflation – CPI 3.58% 4.88%Rupee = USD 64.46 63.87

The major macro events during the month:

Additional borrowing:

During the month, the Government has announced additional borrowing of Rs 50000 crore through issuance of dated Government Securities which has pushed the GSec yields to 17 months high and closed at 7.33%.

Liquidity:

During the month the market liquidity turned negative on account of advance tax and GST payments. This has pushed the money market yields by 20-25 bps higher.

Inflation and IIP:

CPI inflation in November increased to 4.88% YoY (October: 3.58%), Core (ex. food & fuel) inflation also rose to 4.69% YoY (October: 4.41 %).

November WPI inflation jumped to 3.93% YoY (October: 3.59%). Acceleration in food prices heavily contributed to this uptick.

October IIP came down to 3.2% YoY from 3.8% in September. Manufacturing, Mining and Electricity were at 2.5%, 0.2% and 3.2% respectively

Chart showing the movement of the 10 year Gsec yield over the past 3 months

63.00

63.50

64.00

64.50

65.00

65.50

66.00

Oct-2017 Nov-2017 Dec-2017

Chart showing the Currency movement during the past 3 months

0.00

10.00

20.00

30.00

40.00

50.00

60.00

70.00

80.00

Oct-2017 Nov-2017 Dec-2017

The content of the articles in Equity Market Overview & Fixed Income Overview represent the opinions of our Fund Management/Research team. Nothing contained herein is intended as investment advice or recommendations for specific investment decisions, and you should not rely on it as such. Information and analysis above are derived from various sources and using methods believed to be reliable, but we do not assume responsibility and liability for any consequence of the investment decision taken by you based on this analysis. Investment decision taken by readers to this article will be at their sole discretion. The purpose of this article is intended to be used as an educational discussion of the issues involved. This is not to be construed as a solicitation to buy or sell securities.

Source: Internal Research

3

HOW TO READ FACTSHEET?

Fund Manager:An employee of the asset management company such as a mutual fund or life insurer, who manages investments of the scheme. He is usually part of a larger team of fund managers and research analysts.

Application Amount for Fresh Subscription:This is the minimum investment amount for a new investor in a mutual fund scheme.

Minimum Additional Amount:This is the minimum investment amount for an existing investor in a mutual fund scheme.

Yield to Maturity:The Yield to Maturity or the YTM is the rate of return anticipated on a bond if held until maturity. YTM is expressed as an annual rate. The YTM factors in the bond's current market price, par value, coupon interest rate and time to maturity.

SIP:SIP of systematic investment plan works on the principle of making periodic investments of a fixed sum. It works similar to a recurring bank deposits. For instance, an investor may opt for an SIP that invest Rs. 500 every 15th of the month in an equity fund for a period of three years.

NAV:The NAV or the net asset value is the total asset value per unit of the mutual fund after deducting all related and permissible expenses. The NAV is calculated at the end of every business day. It is the value at which the investor enters or exits the mutual fund.

Benchmark:A group of securities, usually a market index, whose performance is used as a standard or benchmark to measure investment performance of mutual funds, among other investments. Some typical benchmarks include the Nifty, Sensex, BSE200, BSE500, 10-Year G-Sec.

Entry Load:A mutual fund may have a sales charge or load at the time of entry and/or exit to compensate the distributor/agent. Entry load is charged at the time an investor purchases the units of a mutual fund. The entry load is added to the prevailing NAV at the time of investment. For instance, if the NAV is Rs. 100 and the entry load is 1%, the investor will enter the fund at Rs. 101.Note: SEBI, vide circular dated June 30, 2009 has abolished entry load and mandated that the upfront commission to distributors will be paid by the investor directly to the distributor, based on his assessment of various factors including the service rendered by the distributor.

Exit Load:Exit load is charged at the time an investor redeems the units of a mutual fund. The exit load is deducted from the prevailing NAV at the time of redemption. For instance, if the NAV is Rs. 100 and the exit load is 1%, the redemption price would be Rs. 99 per unit.

Modified Duration:Modified duration is the price sensitivity and the percentage change in price for a unit change in yield.

Standard Deviation:Standard deviation is a statistical measure of the range of an investment's performance. When a mutual fund has a high standard deviation, its means its range of performance is wide, implying greater volatility.

Sharpe Ratio:The Sharpe Ratio, named after its founder, the Nobel Laureate William Sharpe, is a measure of risk-adjusted returns. It is calculated using standard deviation and excess return to determine reward per unit of risk.

Beta Ratio:Beta is a measure of an investment's volatility vis-a-vis the market. Beta of less than 1 means that the security will be less volatile than the market. A beta of greater than 1 implies that the security's price will be more volatile than the market.

AUM:AUM or assets under management refers to the recent / updated cumulative market value of investments managed by a mutual fund or any investment firm.

Holdings:The holdings or the portfolio is a mutual fund's latest or updated reported statement of investments / securities. These are usually displayed in terms of percentage to net assets or the rupee value or both. The objective is to give investors an idea of where their money is being invested by the fund manager.

Nature of Scheme:The investment objective and underlying investments determine the nature of the mutual fund scheme. For instance, a mutual fund that aims at generating capital appreciation by investing in stock markets is an equity fund or growth fund. Likewise, a mutual fund that aims at capital preservation by investing in debt markets is a debt fund or income fund. Each of these categories may have sub-categories.

Rating Profile:Mutual funds invest in securities after evaluating their creditworthiness as disclosed by the ratings. A depiction of the mutual fund in various investments based on their ratings becomes the rating profile of the fund. Typically, this is a feature of debt funds.

Total Expense Ratio:The Expenses of a mutual fund include management fees and all the fees associated with the fund's daily operations. Expense Ratio refers to the annual percentage of fund's assets that is paid out in expenses.

Average Maturity:The average time of maturity of all the debt securities held in a portfolio. It states the weighted average maturity of the assets in the portfolio.

Portfolio Yield:The income return on an investment. This refers to the interest or dividends received from a security and are usually expressed annually as a percentage based on the investment's cost, its current market value or its face value.

Risk Free Return:The theoretical rate of return attributed to an investment with zero risk. The risk-free rate represents the interest on an investor's money that he or she would expect from an absolutely risk-free investment over a specified period of time.

Tracking Error:The divergence between the price behavior of a position or portfolio and the price behavior of a benchmark.

Portfolio Turnover Ratio:This is a measure of the fund's trading activity, which is computed by taking the lesser of purchases or sales (excluding all securities with maturities of less than one year) and dividing by average monthly net assets.

4

Security Name % to Net Assets*

DEBENTURES 0.01Blue Dart Express Ltd. 0.01EQUITY & EQUITY RELATED 99.63TVS Motor Co. Ltd. 9.44Page Industries Ltd. 6.28Cholamandalam Investment and Finance Co. Ltd. 6.14Eicher Motors Ltd. 6.11MRF Ltd. 5.54Gruh Finance Ltd. 4.64Pidilite Industries Ltd. 4.54VST Industries Ltd. 4.45Wabco India Ltd. 4.23Sundaram Finance Ltd. 3.97ABB India Ltd. 3.95Kotak Mahindra Bank Ltd. 3.92Asian Paints Ltd. 3.59


Thermax Ltd. 3.47United Breweries Ltd. 3.26Colgate Palmolive (India) Ltd. 3.11Nestle India Ltd. 3.04Bosch Ltd. 2.73Cummins India Ltd. 2.69GlaxoSmithkline Consumer Healthcare Ltd. 2.67The Great Eastern Shipping Co. Ltd. 2.63CRISIL Ltd. 2.45Bata India Ltd. 2.44Castrol India Ltd. 2.20Blue Dart Express Ltd. 2.12CBLO 0.61Cash & Cash Receivables -0.24TOTAL 100.00

IDBI Equity Advantage Fund (IEAF)(An open-ended Equity Linked Savings scheme (ELSS) offering Income Tax benefits under Section 80C of the IT Act, 1961)

Portfolio as on 31/12/2017

* Rounded off to the nearest two digits after the decimal point.

Industry Classification

20.13%

17.19%

15.55%

12.50%

7.42%

6.28%

4.77%

4.54%

3.92%

2.69%

2.44%

2.20%

0.00% 5.00% 10.00% 15.00% 20.00% 25.00%

Consumer Non Durables

Finance

Auto

Auto Ancillaries

Industrial Capital Goods

Textile Products

Transportations

Chemicals

Banks

Industrial Products

Consumer Durables

Petroleum Products

Scheme Features

Investment objective:The Scheme will seek to invest predominantly in a diversified portfolio of equity and equity related instruments with the objective to provide investors with opportunities for capital appreciation and income along with the benefit of income-tax deduction (under section 80C of the Income-tax Act, 1961) on their investments. Investments in this scheme would be subject to a statutory lock-in of 3 years from the date of allotment to be eligible for income-tax benefits under Section 80C. There can be no assurance that the investment objective under the scheme will be realized.

Fund Manager: Total Experience: Over 36 Years

Mr. V. Balasubramanian (Managing the Scheme since inception)

Inception Date: 10th September, 2013

Benchmark:S&P BSE 200 Index

NAV as on 29th December 2017 (` per unit):Regular Direct

Growth 27.16 28.34Dividend 20.77 21.83

Monthly Average AUM:` 677.69 Crs.

AUM as on 31st December 2017:` 687.29 Crs.

Expense Ratio: (Weighted Average for the month)Regular : 2.8866% Direct : 1.0943%Expense ratio is inclusive of GST on management fees.

Quantitative Measures:Standard Deviation : 3.6902% Beta : 0.8181 Sharpe Ratio : 0.1293 Portfolio Turnover Ratio^^ : 0.28Risk free rate: Overnight MIBOR (6.20% as on 29/12/17). Source: FIMMDA.Ratios calculated on monthly 3 years data point.^^ Lower of Purchase or Sale for one year/average AUM for one year.

Load Structure:Entry Load : Not ApplicableExit Load (for Lumpsum & SIP) : Nil. Investment under the scheme is subject to

a lock-in period of 3 Years.

Dividend History (Face Value: ` 10/- Per Unit)

Record Date Individual / HUF (` Per Unit)

Others (` Per Unit)

Cum Dividend NAV* (in `)

Ex Dividend NAV (in `)

IDBI Equity Advantage Fund - Dividend (Regular Plan)25th September, 2017 1.5000 1.5000 20.34 18.8226th September, 2016 1.0000 1.0000 19.30 18.3615th September, 2015 1.4000 1.4000 19.03 17.52

IDBI Equity Advantage Fund - Dividend (Direct Plan)25th September, 2017 1.5000 0.0000 21.21 19.6826th September, 2016 1.0000 0.0000 19.78 18.8415th September, 2015 1.4000 1.4000 19.32 17.81Past performance may or may not be sustained in the future. After the payment of dividend, the per unit NAV of the Dividend option of the Scheme will fall to the extent of the dividend payout and statutory levy, if any. All dividend distribution is subject to availability of distributable surplus on the record date and will be at the discretion of IDBI Asset Management Ltd. and IDBI MF Trustee Company Ltd. For complete dividend history including daily dividend history, please refer to our website.* NAV of the record date.

Product LabelThis product is suitable for investors who are seeking*: Riskometerl Long term capital growthl An Equity Linked Savings Scheme (ELSS) investing

in equity and equity related instruments with the objective to provide investors with opportunities for capital appreciation and income along with the benefit of income-tax deduction (under section 80C of the Income-tax Act, 1961) on their investments, subject to a statutory lock-in of three years Investors understand that their principal will be at

Moderately High risk

*Investors should consult their financial advisors if in doubt about whether the product is suitable for them.

5


EQUITY & EQUITY RELATED 97.19IndusInd Bank Ltd. 5.54Maruti Suzuki India Ltd. 5.32HDFC Bank Ltd. 5.05Indian Oil Corpn. Ltd. 4.58Indiabulls Housing Finance Ltd. 4.26ICICI Bank Ltd. 4.23Kotak Mahindra Bank Ltd. 3.85Housing Development Finance Corpn. Ltd. 3.38Larsen & Toubro Ltd. 3.27UltraTech Cement Ltd. 3.13Titan Co. Ltd. 3.02Eicher Motors Ltd. 3.02Procter & Gamble Hygiene and Health Care Ltd. 2.67Piramal Enterprises Ltd. 2.63Bajaj Finance Ltd. 2.62ABB India Ltd. 2.55Bharat Electronics Ltd. 2.49Hindustan Petroleum Corpn. Ltd. 2.32Hindustan Zinc Ltd. 2.17Cummins India Ltd. 2.16Asian Paints Ltd. 2.14Container Corpn. of India Ltd. 2.03


Shree Cements Ltd. 1.92Hero Motocorp Ltd. 1.87Sun TV Network Ltd. 1.79Yes Bank Ltd. 1.79Aurobindo Pharma Ltd. 1.71Bosch Ltd. 1.58Bajaj Finserv Ltd. 1.56Shriram Transport Finance Co. Ltd. 1.51TATA Steel Ltd. 1.49Pidilite Industries Ltd. 1.46UPL Ltd. 1.21Godrej Consumer Products Ltd. 1.17Dabur India Ltd. 1.12Britannia Industries Ltd. 1.07Motherson Sumi Systems Ltd. 1.01Bharat Petroleum Ltd. 0.94Zee Entertainment Enterprises Ltd. 0.91Petronet LNG Ltd. 0.58Emami Ltd. 0.08CBLO 0.74Cash & Cash Receivables 2.08TOTAL 100.00

IDBI India Top 100 Equity Fund (IIT100EF)(An open-ended growth scheme)




20.46%

13.32%

10.21%

8.25%

7.84%

5.05%

5.03%

4.35%

3.27%

3.02%

2.71%

2.59%

2.17%

2.16%

2.03%

1.49%

1.46%

1.21%

0.58%

0.00% 5.00% 10.00% 15.00% 20.00% 25.00%

Banks

Finance

Auto


Petroleum Products

Cement


Pharmaceuticals

Construction Project

Consumer Durables

Media & Entertainment

Auto Ancillaries

Non - Ferrous Metals

Industrial Products

Transportation

Ferrous Metals

Chemicals

Pesticides

Gas

Disclaimer of IISL: The IDBI India Top 100 Equity Fund offered by IDBI Mutual Fund or its affiliates is not sponsored, endorsed, sold or promoted by India Index Services & Products Limited (IISL) and its affiliates. IISL and its affiliates do not make any representation or warranty, express or implied (including warranties of merchantability or fitness for particular purpose or use) and disclaims all liability to the owners of IDBI India Top 100 Equity Fund or any member of the public regarding the advisability of investing in securities generally or in the IDBI India Top 100 Equity Fund linked to Nifty 100 Index or particularly in the ability of the Nifty 100 Index to track general stock market performance in India. Please read the full Disclaimers in relation to the Nifty100 Index in the Scheme Information Document.

Scheme Features

Investment objective:To provide investors with opportunities for long-term growth in capital through active management of a diversified basket of equity stocks, debt and money market instruments. The investment universe of the scheme will be restricted to equity stocks and equity related instruments of companies that are constituents of the Nifty 50 Index and the Nifty Next 50 Index comprising a total of 100 stocks. These two indices are collectively referred to as the Nifty100 Index. The equity portfolio will be well-diversified and actively managed to realize the scheme objective.

Fund Manager: Total Experience: Over 15 YearsMrs. Uma Venkatraman (Managing the Scheme since 5th September 2017)

Inception Date: 15th May, 2012

Benchmark:Nifty 100 Index


Growth 24.34 25.41Dividend 19.11 20.06





Load Structure:Entry Load : Not ApplicableExit Load : for Lumpsum - 1% for exit (Redemption Switch-out/Transfer/SWP) within 12 months

from the date of allotment. for SIP - 1% for exit (Redemption/Switch-out/Transfer/SWP) within 12

months from the date of allotment of each installment.



Others (` Per Unit)



IDBI India Top 100 Equity Fund - Dividend (Regular Plan)31st May, 2017 1.0000 1.0000 19.15 18.1630th May, 2016 1.0000 1.0000 16.67 15.6925th May, 2015 1.0000 1.0000 18.18 17.15

IDBI India Top 100 Equity Fund - Dividend (Direct Plan)31st May, 2017 1.0000 1.0000 19.86 18.8630th May, 2016 1.0000 1.0000 17.04 16.0625th May, 2015 1.0000 1.0000 18.44 17.41Past performance may or may not be sustained in the future. After the payment of dividend, the per unit NAV of the Dividend option of the Scheme will fall to the extent of the dividend payout and statutory levy, if any. All dividend distribution is subject to availability of distributable surplus on the record date and will be at the discretion of IDBI Asset Management Ltd. and IDBI MF Trustee Company Ltd. For complete dividend history including daily dividend history, please refer to our website.* NAV of the record date.

Product LabelThis product is suitable for investors who are seeking*: Riskometer

l Long term capital growthl Investments in equity stocks and equity related

instruments of companies that are constituents of Nifty100 Index

Investors understand that their principal will be at Moderately High risk


6


DEBENTURES 0.01Blue Dart Express Ltd. 0.01EQUITY & EQUITY RELATED 95.97Hindustan Unilever Ltd. 4.52Eicher Motors Ltd. 4.16Gillette India Ltd. 4.13Wabco India Ltd. 3.89PVR Ltd. 3.69Bharat Forge Ltd. 3.64Shree Cements Ltd. 3.38Abbott India Ltd. 3.30Britannia Industries Ltd. 3.08Thermax Ltd. 3.02Mahindra & Mahindra Ltd. 2.87Pidilite Industries Ltd. 2.81Exide Industries Ltd. 2.78HDFC Bank Ltd. 2.75TVS Motor Co. Ltd. 2.69MRF Ltd. 2.52Phillips Carbon Black Ltd. 2.38Kotak Mahindra Bank Ltd. 2.36Cholamandalam Investment and Finance Co. Ltd. 2.31Cummins India Ltd. 2.25The Great Eastern Shipping Co. Ltd. 2.24BASF India Ltd. 1.94Grindwell Norton Ltd. 1.91


Indian Oil Corpn. Ltd. 1.90Bosch Ltd. 1.86VST Industries Ltd. 1.82Schaeffler India Ltd. (Old Name: FAG Bearings India Ltd.)

1.75

Camlin Fine Sciences Ltd. 1.69SKF India Ltd. 1.68Procter & Gamble Hygiene and Health Care Ltd. 1.54Elantas Beck India Ltd. 1.46ABB India Ltd. 1.33Sundaram Finance Ltd. 1.29Goodyear India Ltd. 1.25General Insurance Corpn. of India 1.24Kansai Nerolac Paints Ltd. 1.21Bajaj Finance Ltd. 1.18Hawkins Cookers Ltd. 1.12ITC Ltd. 1.01Castrol India Ltd. 0.96GNA Axles Ltd. 0.84Hero Motocorp Ltd. 0.83IndusInd Bank Ltd. 0.76Indian Energy Exchange Ltd. 0.54Orient Refractories Ltd. 0.10CBLO 1.88Cash & Cash Receivables 2.14TOTAL 100.00

IDBI Diversified Equity Fund (IDEF)(An open-ended growth scheme)

Portfolio as on 31/12/2017Scheme Features

Investment objective:To provide investors with opportunities for long-term growth in capital through investment in a diversified basket of equity stocks, debt and money market instruments. The equity portfolio will be well-diversified and actively managed to realize the Scheme objective. However, there can be no assurance that the investment objective of the scheme will be realized.

Fund Manager: Total Experience: Over 11 YearsMr. Ashish Mishra (Managing the Scheme since 5th September 2017)

Inception Date: 28th March, 2014

Benchmark:S&P BSE 500 Index


Growth 21.69 22.55Dividend 17.86 18.64





Load Structure:Entry Load : Not ApplicableExit Load : For Lumpsum - 1% for exit (Redemption/Switch-out/Transfer/SWP) within

12 months from the date of allotment. For SIP - 1% for exit (Redemption/Switch-out/Transfer/SWP) within

12 months from the date of allotment of each installment.



Others (` Per Unit)



IDBI Diversified Equity Fund - Dividend (Regular Plan)25th September, 2017 1.2000 1.2000 17.21 16.0426th September, 2016 1.0000 1.0000 16.98 16.0125th May, 2015 1.0000 1.0000 16.79 15.74

IDBI Diversified Equity Fund - Dividend (Direct Plan)25th September, 2017 1.2000 0.0000 17.81 16.6526th September, 2016 1.0000 0.0000 17.25 16.2725th May, 2015 1.0000 1.0000 16.89 15.84

Past performance may or may not be sustained in the future. After the payment of dividend, the per unit NAV of the Dividend option of the Scheme will fall to the extent of the dividend payout and statutory levy, if any. All dividend distribution is subject to availability of distributable surplus on the record date and will be at the discretion of IDBI Asset Management Ltd. and IDBI MF Trustee Company Ltd. For complete dividend history including daily dividend history, please refer to our website.* NAV of the record date.

Product LabelThis product is suitable for investors who are seeking*: Riskometerl Long term capital growthl Investments predominantly in equity & equity related

instruments





17.31%

13.14%

12.80%

10.55%

8.81%

6.55%

5.87%

4.35%

3.69%

3.38%

3.30%

2.87%

2.24%

1.12%

0.00% 4.00% 8.00% 12.00% 16.00% 20.00%


Auto Ancillaries

Industrial Products

Auto

Chemicals

Finance

Banks



Cement

Pharmaceuticals

Petroleum Products

Transportation

Consumer Durables

7


EQUITY & EQUITY RELATED 99.88HDFC Bank Ltd. 9.43Reliance Industries Ltd. 7.53Housing Development Finance Corpn. Ltd. 6.74ITC Ltd. 5.52Infosys Ltd. 5.13ICICI Bank Ltd. 4.96Larsen & Toubro Ltd. 3.82Kotak Mahindra Bank Ltd. 3.32TATA Consultancy Services Ltd. 3.30Maruti Suzuki India Ltd. 3.18State Bank of India Ltd. 2.84Hindustan Unilever Ltd. 2.41Axis Bank Ltd. 2.36IndusInd Bank Ltd. 2.06TATA Motors Ltd. 2.00Mahindra & Mahindra Ltd. 1.72Bharti Airtel Ltd. 1.72Sun Pharmaceuticals Industries Ltd. 1.56Vedanta Ltd (Old Name: Sesa Sterlite Ltd.) 1.51Yes Bank Ltd. 1.42Oil & Natural Gas Corpn. Ltd. 1.36NTPC Ltd. 1.33Asian Paints Ltd. 1.27HCL Technologies Ltd. 1.22Hero Motocorp Ltd. 1.21TATA Steel Ltd. 1.21


Bajaj Auto Ltd. 1.12UltraTech Cement Ltd. 1.11Power Grid Corpn. of India Ltd. 1.09Bajaj Finance Ltd. 1.02Bharat Petroleum Ltd. 1.00Eicher Motors Ltd. 1.00Hindalco Industries Ltd. 1.00Wipro Ltd. 0.98Indian Oil Corpn. Ltd. 0.98Indiabulls Housing Finance Ltd. 0.95Coal India Ltd. 0.85Gail (India) Ltd. 0.79Adani Ports and Special Economic Zone Ltd. 0.78Zee Entertainment Enterprises Ltd. 0.78Hindustan Petroleum Corpn. Ltd. 0.77Tech Mahindra Ltd. 0.77CIPLA Ltd. 0.76Dr. Reddys Laboratories Ltd. 0.72UPL Ltd. 0.69Bharti Infratel Ltd. 0.66Lupin Ltd. 0.52Ambuja Cements Ltd. 0.49Aurobindo Pharma Ltd. 0.48Bosch Ltd. 0.45CBLO 0.14Cash & Cash Receivables -0.02TOTAL 100.00

IDBI Nifty Index Fund (INIF)(An open-ended passively managed equity scheme tracking the Nifty 50 Index [Total Returns Index])


Investment objective:The investment objective of the scheme is to invest only in and all the stocks comprising the Nifty 50 Index in the same weights of these stocks as in the Index with the objective to replicate the performance of the Total Returns Index of Nifty 50 Index. The scheme may also invest in derivatives instruments such as Futures and Options linked to stocks comprising the Index or linked to the Nifty 50 Index. The scheme will adopt a passive investment strategy and will seek to achieve the investment objective by minimizing the tracking error between the Nifty 50 Index (Total Returns Index) and the Scheme.


Mrs. Uma Venkatraman (Managing the Scheme since 5th September 2017)

Inception Date: 25th June, 2010

Benchmark:Nifty 50 Index-TRI (Total Returns Index)


Growth 19.4462 20.2260Dividend 18.5440 19.2895




Quantitative Measures:Portfolio Turnover Ratio^^ : 0.62 Tracking Error : 0.7777%Annualised tracking error for last 12 month's period.^^ Lower of Purchase or Sale for one year/average AUM for one year.

Load Structure:Entry Load : Not ApplicableExit Load (for Lumpsum & SIP) : Nil



Others (` Per Unit)



IDBI Nifty Index Fund - Dividend (Regular Plan)14th October, 2010 0.4000 0.4000 11.5740 10.962831st August, 2010 0.1200 0.0000 10.2883 10.2886



l Long Term growth in a passively managed scheme tracking Nifty 50 Index (TRI)l Investments only in and all stocks comprising Nifty 50 Index in the same weight of these stocks as in

Index with objective to replicate performance of Nifty 50 Index (TRI)

Investors understand that their principal will be at Moderately High risk*Investors should consult their financial advisors if in doubt about whether the product is suitable for them.



26.39%

11.40%

10.28%

10.23%

9.20%

8.71%

4.04%

3.82%

2.51%

2.41%

1.72%

1.61%

1.36%

1.21%

0.85%

0.79%

0.78%

0.78%

0.69%

0.66%

0.45%

0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00%

Banks

Software

Petroleum Products

Auto


Finance

Pharmaceuticals



Power

Telecom - Services

Cement

Oil

Ferrous Metals

Minerals/Mining

Gas

Transportation


Pesticides

Telecom - Equipment & Accessories

Auto Ancillaries

Disclaimer of IISL : The IDBI Nifty Index Fund offered by IDBI Mutual Fund or its affiliates is not sponsored, endorsed, sold or promoted by India Index Services & Products Limited (IISL) and its affiliates. IISL and its affiliates do not make any representation or warranty, express or implied (including warranties of merchantability or fitness for particular purpose or use) and disclaims all liability to the owners of IDBI Nifty Index Fund or any member of the public regarding the advisability of investing in securities generally or in the IDBI Nifty Index Fund linked to Nifty 50 Index or particularly in the ability of the Nifty 50 Index to track general stock market performance in India. Please read the full Disclaimers in relation to the Nifty 50 Index in the Scheme Information Document.

8

Security Name % To Net Assets*

EQUITY & EQUITY RELATED 98.74Titan Co. Ltd. 4.84Bajaj Finserv Ltd. 4.28Motherson Sumi Systems Ltd. 4.00JSW Steel Ltd. 3.79Britannia Industries Ltd. 3.75Godrej Consumer Products Ltd. 3.41Piramal Enterprises Ltd. 3.14Shree Cements Ltd. 2.98Shriram Transport Finance Co. Ltd. 2.91Dabur India Ltd. 2.67Petronet LNG Ltd. 2.59United Spirits Ltd. 2.53MRF Ltd. 2.39Ashok Leyland Ltd. 2.31LIC Housing Finance Ltd. 2.31TATA Power Co. Ltd. 2.28Marico Ltd. 2.25Bank of Baroda Ltd. 2.04Container Corpn. of India Ltd. 2.00ACC Ltd. 1.99Idea Cellular Ltd. 1.96Colgate Palmolive (India) Ltd. 1.94Bharat Electronics Ltd. 1.90Pidilite Industries Ltd. 1.84Havells India Ltd. 1.77Punjab National Bank Ltd. 1.68


Rural Electrification Corpn. Ltd. 1.67Bharat Heavy Electricals Ltd. 1.66Cummins India Ltd. 1.62DLF Ltd. 1.53Cadila Healthcare Ltd. 1.47Siemens Ltd. 1.46Power Finance Corpn. Ltd. 1.45NMDC Ltd. 1.44ICICI Prudential Life Insurance Co. Ltd. 1.38Sun TV Network Ltd. 1.29Steel Authority of India Ltd. 1.29Oracle Financial Services Software Ltd. 1.20Procter & Gamble Hygiene and Health Care Ltd. 1.17Glenmark Pharmaceuticals Ltd. 1.16Avenue Supermarts Ltd. 1.09Emami Ltd. 1.08Hindustan Zinc Ltd. 1.04GlaxoSmithkline Consumer Healthcare Ltd. 1.02ABB India Ltd. 0.99NHPC Ltd. 0.92Torrent Pharmaceuticals Ltd. 0.90Oil India Ltd. 0.90Interglobe Aviation Ltd. 0.80Glaxosmithkline Pharmaceuticals Ltd. 0.68CBLO 1.08Cash & Cash Receivables 0.19TOTAL 100.00

IDBI Nifty Junior Index Fund (INJIF)(An open-ended passively managed equity scheme tracking the Nifty Next 50 Index (Total Returns Index)


Investment objective:The investment objective of the scheme is to invest only in and all the stocks comprising the Nifty Next 50 Index in the same weights of these stocks as in the Index with the objective to replicate the performance of the Total Returns Index of Nifty Next 50 Index. The scheme may also invest in derivatives instruments such as Futures and Options linked to stocks comprising the Index or linked to the Nifty Next 50 Index as and when the derivative products on the same are made available. The scheme will adopt a passive investment strategy and will seek to achieve the investment objective by minimizing the tracking error between the Nifty Next 50 Index (Total Returns Index) and the Scheme.



Inception Date: 20th September, 2010

Benchmark:Nifty Next 50 Index-TRI (Total Returns Index)


Growth 23.4268 24.4744Dividend 23.4268 24.4744




Quantitative Measures:Portfolio Turnover Ratio^^ : 0.54 Tracking Error : 0.7150%Annualised tracking error for last 12 month's period.^^ Lower of Purchase or Sale for one year/average AUM for one year.


Disclaimer of IISL: The IDBI Nifty Junior Index Fund offered by IDBI Mutual Fund or its affiliates is not sponsored, endorsed, sold or promoted by India Index Services & Products Limited (IISL) and its affiliates. IISL and its affiliates do not make any representation or warranty, express or implied (including warranties of merchantability or fitness for particular purpose or use) and disclaims all liability to the owners of IDBI Nifty Junior Index Fund or any member of the public regarding the advisability of investing in securities generally or in the IDBI Nifty Junior Index Fund linked to Nifty Next 50 Index or particularly in the ability of the Nifty Next 50 Index to track general stock market performance in India. Please read the full Disclaimers in relation to the Nifty Next 50 Index in the Scheme Information Document.


l Long Term growth in a passively managed scheme tracking Nifty Next 50 Index (TRI)l Investments only in and all stocks comprising Nifty Next 50 Index in the same weight of these stocks as

in Index with objective to replicate performance of Nifty Next 50 Index (TRI)




19.81%

13.99%

7.35%

6.61%

6.39%

6.00%

5.08%

4.97%

3.72%

3.19%

2.81%

2.59%

2.31%

1.96%

1.84%

1.62%

1.53%

1.44%

1.29%

1.20%

1.09%

1.04%

0.90%

0.00% 5.00% 10.00% 15.00% 20.00% 25.00%


Finance

Pharmaceuticals

Consumer Durables

Auto Ancillaries


Ferrous Metals

Cement

Banks

Power

Transportation

Gas

Auto

Telecom - Services

Chemicals

Industrial Products

Construction

Minerals/Mining


Software

Retailing


Oil

9


EQUITY & EQUITY RELATED 96.57Minda Industries Ltd. 4.30TATA Elxsi Ltd. 2.94Bajaj Finance Ltd. 2.92Vedanta Ltd. 2.48Shree Cements Ltd. 2.42Procter & Gamble Hygiene and Health Care Ltd. 2.30Motherson Sumi Systems Ltd. 2.28Sterlite Technologies Ltd. 2.25Finolex Industries Ltd. 2.24Trent Ltd. 2.22Minda Corpn. Ltd. 2.16RBL Bank Ltd. 2.05JK Tyre and Industries Ltd. 2.03Indiabulls Housing Finance Ltd. 2.00Dalmia Bharat Ltd. 1.97Heritage Foods Ltd. 1.93Akzo Nobel India Ltd. 1.90Endurance Technologies Ltd. 1.88Supreme Industries Ltd. 1.87AIA Engineering Ltd. 1.87Hindustan Copper Ltd. 1.77National Aluminium Co. Ltd. 1.73Phillips Carbon Black Ltd. 1.68Bharat Financial Inclusion Ltd. 1.67The Federal Bank Ltd. 1.66General Insurance Corpn. of India 1.66Mahindra & Mahindra Financial Services Ltd. 1.64Finolex Cables Ltd. 1.59Sanofi India Ltd. 1.58Escorts Ltd. 1.58The Ramco Cements Ltd. 1.58Cummins India Ltd. 1.51Amara Raja Batteries Ltd. 1.40BEML Ltd. 1.35


PNB Housing Finance Ltd. 1.34CESC Ltd. 1.33Navin Fluorine International Ltd. 1.30Gujarat State Petronet Ltd. 1.29Aurobindo Pharma Ltd. 1.27Johnson Controls-Hitachi Air Conditioning India Ltd.

1.25

CCL Products (India) Ltd. 1.25Elgi Equipment Ltd. 1.20VA Tech Wabag Ltd. 1.12Trident Ltd. 1.05Shriram Transport Finance Co. Ltd. 1.03Cadila Healthcare Ltd. 1.01Bosch Ltd. 1.01Carborundum Universal Ltd. 1.01Yes Bank Ltd. 1.00Mahindra CIE Automotive Ltd. 1.00Dabur India Ltd. 0.97Vinati Organics Ltd. 0.96Himatsingka Seide Ltd. 0.93Gujarat Gas Ltd. 0.84Strides Shasun Ltd. 0.83Century Plyboards (India) Ltd. 0.79UPL Ltd. 0.77Timken India Ltd. 0.71DCB Bank Ltd. 0.67Kirloskar Oil Engines Ltd. 0.60Zydus Wellness Ltd. 0.53Bajaj Electricals Ltd. 0.42Aditya Birla Capital Ltd. 0.39Housing & Urban Development Corpn. Ltd. 0.257.5% Vendanta Redeemable Preference Shares 0.06CBLO 3.99Cash & Cash Receivables -0.57TOTAL 100.00

IDBI Midcap Fund (IMF)(An open-ended equity scheme)

Scheme Features

Investment objective:The objective of the scheme is to provide investors with the opportunities for long-term capital appreciation by investing predominantly in Equity and Equity related instruments of Midcap Companies. However there can be no assurance that the investment objective under the scheme will be realized.


Inception Date: 25th January 2017

Benchmark:Nifty Free Float Midcap 100


Growth 12.44 12.73Dividend 12.44 12.73




Load Structure:Entry Load : Not ApplicableExit Load : 1% for exit within 12 months from the date of allotment.


l Long term capital growthl Investment predominantly in equity & equity related instruments of Midcap companies


Disclaimer of IISL: The IDBI Midcap Fund offered by IDBI Mutual Fund is not sponsored, endorsed, sold or promoted by India Index Services & Products Limited (IISL). IISL does not make any representation or warranty, express or implied (including warranties of merchantability or fitness for particular purpose or use) and disclaims all liability to the owners of IDBI Midcap Fund or any member of the public regarding the advisability of investing in securities generally or in the IDBI Midcap Fund linked to Nifty Free Float Midcap 100 Index or particularly in the ability of the Nifty Free Float Midcap 100 Index to track general stock market performance in India. Please read the full Disclaimers in relation to the Nifty Free Float Midcap 100 Index in the Scheme Information Document.




15.83%

15.07%

12.90%

8.88%

6.04%

5.96%

5.37%

4.69%

3.94%

2.94%

2.46%

2.22%

2.14%

1.98%

1.58%

1.35%

1.33%

1.12%

0.77%

0.00% 2.00% 4.00% 6.00% 8.00% 10.00% 12.00% 14.00% 16.00% 18.00%

Industrial Products

Auto Ancillaries

Finance



Cement

Banks

Pharmaceuticals

Chemicals

Software

Consumer Durables

Retailing

Gas

Textile Products

Auto


Power

Engineering Services

Pesticides

10


EQUITY & EQUITY RELATED 88.38General Insurance Corpn. of India 5.903M India Ltd. 4.02Camlin Fine Sciences Ltd. 3.89ABB India Ltd. 3.21Cholamandalam Investment and Finance Company Ltd.

2.73

Voltas Ltd. 2.71Mahindra & Mahindra Financial Services Ltd. 2.58Kansai Nerolac Paints Ltd. 2.42Vijaya Bank 2.28Timken India Ltd. 2.26V S T Tillers Tractors Ltd. 2.24AIA Engineering Ltd. 2.19Cera Sanitaryware Ltd. 2.11Cochin Shipyard Ltd. 2.08Ahluwalia Contracts (India) Ltd. 2.07Somany Ceramics Ltd. 2.02JK Cement Ltd. 1.96GNA Axles Ltd. 1.93NRB Bearing Ltd. 1.82Bajaj Finance Ltd. 1.77Hatsun Agro Product Ltd. 1.72Goodyear India Ltd. 1.71City Union Bank Ltd. 1.69NCC Ltd. 1.68Mahindra Logistics Ltd. 1.67


Gravita India Ltd. 1.67Honeywell Automation India Ltd. 1.63INEOS Styrolution India Ltd. 1.51Garware Wall Ropes Ltd. 1.50Dishman Carbogen Amcis Ltd. 1.45Bajaj Auto Ltd. 1.40Muthoot Capital Services Ltd. 1.32KEI Industries Ltd. 1.27Ingersoll Rand (India) Ltd. 1.25Indian Energy Exchange Ltd. 1.23MM Forgings Ltd. 1.19Exide Industries Ltd. 1.17Aegis Logistics Ltd. 1.10Mold-Tek Packaging Ltd. 1.10Wabco India Ltd. 1.08TATA Global Beverages Ltd. 1.06Transport Corpn. of India Ltd. 0.99Star Cement Ltd. 0.94Sundaram Clayton Ltd. 0.93Sintex Plastics Technology Ltd. 0.88Capacite Infraprojects Ltd. 0.85Greenply Industries Ltd. 0.83Caplin Point Laboratories Ltd. 0.75Rajapalayam Mills Ltd. 0.62CBLO 11.96Cash & Cash Receivables -0.34TOTAL 100.00

IDBI Small Cap Fund (ISF)(An open-ended equity scheme)

Scheme Features

Investment objective:The objective of the scheme is to provide investors with the opportunities for long-term capital appreciation by investing predominantly in Equity and Equity related instruments of Small Cap companies. However there can be no assurance that the investment objective under the Scheme will be realized.



Inception Date: 21st June 2017

Benchmark:Nifty Smallcap 250 Index


Growth 11.16 11.31Dividend 11.16 11.31







15.52%

13.46%

7.05%

6.93%

6.82%

5.20%

4.40%

4.02%

3.97%

3.89%

3.64%

2.89%

2.67%

2.20%

2.12%

1.67%

1.10%

0.83%

0.00% 4.00% 8.00% 12.00% 16.00%

Finance

Industrial Products

Construction


Auto Ancillaries



Trading

Banks

Chemicals

Auto

Cement

Transportation

Pharmaceuticals

Textile Products

Minerals/Mining

Gas

Consumer Durables


l Long term capital growthl Investment predominantly in equity & equity related instruments of Small Cap companies



11

IDBI Prudence Fund (IPF)(An open-ended balanced scheme)


Product LabelThis product is suitable for investors who

are seeking*:Riskometer

l Long term capital appreciation with income

l Investments in equity & equity related instruments as well as debt and money market instruments



* Rounded off to the nearest two digits after the decimal point.Fixed Deposits placed for margin purpose for Derivative ExposureTotal Outstanding exposure in Derivative Instruments as on December 31, 2017: Rs. 4375.68 (Market Value in Lakhs)

Industry Classification (for equity & equity related)

11.53%

9.46%

7.19%

6.25%

5.18%

4.62%

4.33%

4.05%

3.67%

3.43%

2.64%

2.44%

2.04%

1.06%

0.73%

0.58%

0.57%

0.55%

0.29%

0.23%

0.14%

0.00% 2.00% 4.00% 6.00% 8.00% 10.00% 12.00%


Banks

Industrial Products

Auto

Chemicals

Finance

Power

Cement

Auto Ancillaries



Ferrous Metals


Software

Pesticides

Pharmaceuticals


Telecom - Services

Textile Products

Fertilisers

Healthcare Services

Issuer / Security Name Rating % To Net Assets*

COMMERCIAL PAPERS 3.45Aditya Birla Finance Ltd. ICRA A1+ 1.15Capital First Ltd. ICRA A1+ 1.15TATA Motors Finance Ltd. CARE A1+ 1.15FIXED COUPON BONDS 10.35Punjab National Bank Ltd. IND AA+ 2.32LIC Housing Finance Ltd. CRISIL AAA 2.31Axis Bank Ltd. CRISIL AA+ 2.29Bank of Baroda Ltd. CRISIL AA+ 2.28Fullerton India Credit Co. Ltd. CARE AAA 1.15EQUITY & EQUITY RELATED 71.01Godrej Consumer Products Ltd. N.A 3.53HDFC Bank Ltd. N.A 3.47Pidilite Industries Ltd. N.A 3.13Yes Bank Ltd. N.A 2.92TVS Motor Co. Ltd. N.A 2.67JSW Steel Ltd. N.A 2.44Bharat Forge Ltd. N.A 2.37Dewan Housing Finance Corpn. Ltd. N.A 2.22Nestle India Ltd. N.A 2.18Aarti Industries Ltd. N.A 2.05CESC Ltd. N.A 1.98IndusInd Bank Ltd. N.A 1.91Hindustan Unilever Ltd. N.A 1.90Hindalco Industries Ltd. N.A 1.90Hero Motocorp Ltd. N.A 1.75Larsen & Toubro Ltd. N.A 1.75Jain Irrigation Systems Ltd. N.A 1.60Godrej Industries Ltd. N.A 1.54Finolex Cables Ltd. N.A 1.47Kansai Nerolac Paints Ltd. N.A 1.45Eicher Motors Ltd. N.A 1.40Exide Industries Ltd. N.A 1.39Birla Corpn. Ltd. N.A 1.39Sundram Fasteners Ltd. N.A 1.35Reliance Infrastructure Ltd. N.A 1.28Sun TV Network Ltd. N.A 1.19Vedanta Ltd. (Old Name: Sesa Sterlite Ltd.) N.A 1.14


Heidelberg Cement India Ltd. N.A 1.11JSW Energy Ltd. N.A 1.07TATA Consultancy Services Ltd. N.A 1.06IDFC Bank Ltd. N.A 1.02TI Financial Holdings Ltd.(Formerly Tube Investment of India Ltd.) N.A 0.95ITC Ltd. N.A 0.91Century Textiles and Industries Ltd. N.A 0.90NCC Ltd. N.A 0.89Timken India Ltd. N.A 0.88Sintex Plastics Technology Ltd. N.A 0.87Inox Leisure Ltd. N.A 0.85UPL Ltd. N.A 0.73Shree Cements Ltd. N.A 0.65Indiabulls Housing Finance Ltd. N.A 0.64Wockhardt Ltd. N.A 0.58Siemens Ltd. N.A 0.57TATA Communications Ltd. N.A 0.55TVS Srichakra Ltd. N.A 0.55Infrastucture Development Finance Co. Ltd. N.A 0.44Force Motors Ltd. N.A 0.43Hindustan Zinc Ltd. N.A 0.39Tube Investments of India Ltd. (Formerly TI Financial Holdings Ltd.) N.A 0.37LIC Housing Finance Ltd. N.A 0.36Raymond Ltd. N.A 0.29Gujarat State Fertilizers And Chemicals Ltd. N.A 0.23Punjab National Bank Ltd. N.A 0.16Fortis Healthcare Ltd. N.A 0.14FIXED DEPOSITS 1.85HDFC Bank Ltd. N.A 1.85GOV'T SECURITIES 10.0406.79 GOI 2027 SOV 6.3506.68 GOI 2031 SOV 3.68CBLO 0.79Cash & Cash Receivables 2.52TOTAL 100.00

Asset Profile

3.45%

10.35%

71.01%

1.85%

10.04%

0.79% 2.52%

0.00%

10.00%

20.00%

30.00%

40.00%

50.00%

60.00%

70.00%

80.00% Commercial Papers

Equity & Equity Related

Fixed Coupon Bonds

Gov't Securities

CBLO

Fixed Deposits

Cash & Cash Receivables

Scheme FeaturesInvestment objective:The investment objective of the scheme would be to generate opportunities for capital appreciation along with income by investing in a diversified basket of equity and equity related instruments, debt and money market instruments. However, there can be no assurance that the investment objective of the scheme will be realized.

Fund Managers: Total Experience: V. Balasubramanian (Equity Portion)

Over 36 Years(Managing the Scheme since inception)

Mr. Raju Sharma (Debt Portion)

Over 25 Years (Managing the Scheme since 3rd May, 2017)

Inception Date: 24th October 2016

Benchmark:50% S&P BSE 500 Index + 50% CRISIL Composite Bond Fund Index


Growth 12.1804 12.4297Dividend 11.5538 11.8185




Quantitative Measures:YTM : 7.72% Average Maturity : 5.77 Years Modified Duration : 4.00 Years Portfolio Turnover Ratio^^ : 3.47^^ Lower of Purchase or Sale for one year/average AUM for one year.

Load Structure:Entry Load : Not ApplicableExit Load : 1% for exit within 12 months from the date of allotment. (for Lumpsum & SIP) No load on exit after the aforementioned period.



Others (` Per Unit)



IDBI Prudence Fund - Monthly Dividend (Regular Plan)30th October, 2017 0.2000 0.2000 11.4708 11.283931st August, 2017 0.4000 0.4000 11.4882 11.1663IDBI Prudence Fund - Monthly Dividend (Direct Plan)30th October, 2017 0.2000 0.2000 11.6905 11.503831st August, 2017 0.4000 0.4000 11.6595 11.3395Past performance may or may not be sustained in the future. After the payment of dividend, the per unit NAV of the Dividend option of the Scheme will fall to the extent of the dividend payout and statutory levy, if any. All dividend distribution is subject to availability of distributable surplus on the record date and will be at the discretion of IDBI Asset Management Ltd. and IDBI MF Trustee Company Ltd. For complete dividend history including daily dividend history, please refer to our website.* NAV of the record date.

12

IDBI Focused 30 Equity Fund (IF30EF)(An open-ended equity scheme investing in maximum 30 stocks (predominantly large cap))

Scheme Features

Investment objective:The investment objective of the Scheme is to provide long term capital appreciation by investing in concentrated portfolio of large cap focused equity and equity related instruments of up to 30 companies and balance in debt and money market Instruments. However there can be no assurance that the investment objective of the Scheme will be realized.


Mr. V. Balasubramanian (Managing the Scheme since inception)

Inception Date: 17th November, 2017

Benchmark:Nifty 100 Index


Growth 10.14 10.18Dividend 10.14 10.18







9.78%

6.02%

5.23%

4.47%

4.39%

3.87%

3.06%

3.02%

2.23%

2.07%

2.03%

1.83%

0.71%

0.00% 2.00% 4.00% 6.00% 8.00% 10.00% 12.00%


Auto

Banks

Industrial Products

Petroleum Products

Finance


Cement

Ferrous Metals

Auto Ancillaries

Pharmaceuticals

Power


Asset Profile

Commercial Papers

CBLO

Equity & Equity Related


22.64%

48.71%

28.47%

0.18%0.00%

10.00%

20.00%

30.00%

40.00%

50.00%

60.00%


l Long term capital growthl Investment predominantly in large cap focused equity & equity related instruments of upto 30 companies

and balance in debt & money market instruments


Portfolio as on 31/12/2017Issuer Name Rating % To Net

Assets*COMMERCIAL PAPERS 22.64Cholamandalam Investment & Finance Co. Ltd.

ICRA A1+ 7.56

TATA Motors Finance Ltd. CARE A1+ 7.56Aditya Birla Finance Ltd. ICRA A1+ 7.53EQUITY & EQUITY RELATED 48.71HDFC Bank Ltd. N.A. 3.70TATA Motors Ltd. N.A. 3.28Asian Paints Ltd. N.A. 3.17Hindustan Unilever Ltd. N.A. 3.12Larsen & Toubro Ltd. N.A. 3.06Shree Cements Ltd. N.A. 3.02Reliance Industries Ltd. N.A. 2.80Mahindra & Mahindra Ltd. N.A. 2.74Bharat Forge Ltd. N.A. 2.67TATA Steel Ltd. N.A. 2.23Motherson Sumi Systems Ltd. N.A. 2.07

Issuer Name Rating % To Net Assets*

CIPLA Ltd. N.A. 2.03ITC Ltd. N.A. 2.00Power Grid Corpn. of India Ltd. N.A. 1.83Mahindra CIE Automotive Ltd. N.A. 1.80Hindustan Petroleum Corpn. Ltd. N.A. 1.59Yes Bank Ltd. N.A. 1.53GlaxoSmithkline Consumer Healthcare Ltd.

N.A. 1.49

ICICI Prudential Life Insurance Co. Ltd.

N.A. 1.46

Indiabulls Housing Finance Ltd. N.A. 1.45Bajaj Finserv Ltd. N.A. 0.95Honda Siel Power Products Ltd. N.A. 0.71CBLO 28.47Cash & Cash Receivables 0.18TOTAL 100.00

13

IDBI Monthly Income Plan (IMIP)(An open ended Income Scheme. Monthly Income is not assured and is subject to availability of distributable surplus)

Scheme FeaturesInvestment objective:The investment objective of the scheme would be to provide regular income along with opportunities for capital appreciation through investments in a diversified basket of debt instruments, equity and money market instruments.

Fund Manager: Total Experience:Mr. Raju Sharma (Debt Portion)

Over 25 Years (Managing the Scheme since 3rd May, 2017)

Mrs. Uma Venkatraman (Equity Portion)

Over 15 Years (Managing the Scheme since 5th September, 2017)

Inception Date: 7th March, 2011

Benchmark:CRISIL MIP Blended Index


Growth 15.8182 16.3512Monthly Dividend 13.4686 12.0349Quarterly Dividend 12.5965 0.0000

NAV: 0.0000 indicates that there is no investment under the option.

Monthly Average AUM: ` 20.16 Crs.



Quantitative Measures:YTM : 8.05%Average Maturity : 6.14 YearsModified Duration : 3.54 YearsPortfolio Turnover Ratio^^ : 2.46^^ Lower of Purchase or Sale for one year/average AUM for one year.

Load Structure:Entry Load : Not ApplicableExit Load : for Lumpsum - 1% for exit (New/Additional Purchase/Switch-out/Transfer/SWP)

within 12 months from the date of allotment. for SIP - 1% for exit (New/Additional Purchase/Switch-out/Transfer/SWP)

within 12 months from the date of allotment of each installment.



Others (` Per Unit)



IDBI Monthly Income Plan - Monthly Dividend (Regular Plan)26th December, 2013 0.0545 0.0522 10.2703 10.216625th November, 2013 0.0468 0.0448 10.2157 10.149325th July, 2013 0.0545 0.0522 10.2261 10.1763IDBI Monthly Income Plan - Monthly Dividend (Direct Plan)25th October, 2017 0.0121 0.0000 12.116 12.126825th September, 2017 0.0023 0.0000 12.0903 12.082328th August, 2017 0.0218 0.0000 12.1274 12.0838IDBI Monthly Income Plan - Quarterly Dividend (Regular Plan)20th April, 2017 0.2516 0.2331 12.7928 12.41606th July, 2015 0.1150 0.1065 11.7568 11.583727th March, 2015 0.2385 0.2212 12.0213 11.7359IDBI Monthly Income Plan - Quarterly Dividend (Direct Plan)29th September, 2014 0.1948 0.1866 11.5885 11.333017th April, 2014 0.0935 0.0896 10.8922 10.77533rd April, 2013 0.1839 0.1567 10.4314 10.2030Past performance may or may not be sustained in the future. After the payment of dividend, the per unit NAV of the Dividend option of the Scheme will fall to the extent of the dividend payout and statutory levy, if any. All dividend distribution is subject to availability of distributable surplus on the record date and will be at the discretion of IDBI Asset Management Ltd. and IDBI MF Trustee Company Ltd. For complete dividend history including daily dividend history, please refer to our website.* NAV of the record date.



Industry Classification (for equity & equity related)

4.11%

2.98%

2.79%

2.64%

1.80%

1.56%

1.37%

1.23%

1.14%

0.64%

0.00 1.00 2.00 3.00 4.00 5.00

Banks


Auto



Cement


Finance

Pharmaceuticals

Petroleum Products

Asset Profile

Fixed Coupon Bonds38.02%

Equity & Equity Related20.26%

Gov't Securities36.71%

CBLO4.63%

Cash & Cash Receivables0.38%

Rating ProfileAA+

11.10%

AAA0.44%

CBLO and Cash &Cash Receivables

5.01%

Equity and Equity Related20.26%

Gov't Securities36.71%

A+5.15%

AA-9.57%

AA11.76%


l Medium term regular income and capital appreciation

l Investments in fixed income securities (debt and money market) as well as equity and equity related instruments

Investors understand that their principal will be at Moderate risk*Investors should consult their financial advisors if in doubt about whether the product is suitable for them.


FIXED COUPON BONDS 38.02Piramal Enterprises Ltd. ICRA AA 11.76Bank of Baroda Ltd. CRISIL AA+ 11.10J K Cement Ltd. CARE AA- 9.57Ujjivan Financial Services ICRA A+ 5.15NTPC Ltd. CRISIL AAA 0.44EQUITY & EQUITY RELATED 20.26IndusInd Bank Ltd. N.A 2.55Procter & Gamble Hygiene and Health Care Ltd. N.A 1.80Bharat Electronics Ltd. N.A 1.67Hindustan Zinc Ltd. N.A 1.67Shree Cements Ltd. N.A 1.56HDFC Bank Ltd. N.A 1.56Eicher Motors Ltd. N.A 1.55


Larsen And Toubro Ltd. N.A 1.37Vedanta Ltd. (Old Name: Sesa Sterlite Ltd.) N.A 1.31Hero MotoCorp Ltd. N.A 1.24Housing Development Finance Corpn. Ltd. N.A 1.23Aurobindo Pharma Ltd. N.A 1.14ABB India Ltd. N.A 0.97Indian Oil Corpn. Ltd. N.A 0.64GOV'T SECURITIES 36.7106.79 GOI 2027 SOV 27.1306.68 GOI 2031 SOV 9.58CBLO 4.63Cash & Cash Receivables 0.38TOTAL 100.00

Snapshot of IDBI Mutual Fund SchemesIEAF IF30EF ISF IIT100EF INIF INJIF IPF IMIP ILQF IDBF IGF IUSTF ISTBF ICDOF IDEF IMF IGFOF IDBIGOLD

Benchmark S&P BSE 200 Index

Nifty 100 Index

Nifty Smallcap 250 Index

Nifty 100 Index

Nifty 50 Index-TRI (Total Returns Index)

Nifty Next 50 Index-TRI (Total Returns Index)

50% S&P BSE 500 Index + 50% CRISIL Composite Bond Fund Index

CRISIL MIP Blended Index CRISIL Liquid Fund Index

CRISIL Composite Bond Fund Index

CRISIL Gilt Index

CRISIL Liquid Fund Index

CRISIL Short Term Bond Fund Index

CRISIL Short Term Bond Fund Index

S&P BSE 500 Index

Nifty Free Float Midcap 100

Domestic price of Gold

Domestic price of Physical Gold

Fund Manager Mr. V. Balasubramanian Mrs. Uma Venkatraman (w.e.f 5th September 2017)

Mr. V. Balasubramanian (Equity Portion)

Mr. Raju Sharma (Debt portion) w.e.f 3rd May 2017

Mrs. Uma Venkatraman (Equity portion) w.e.f 5th September 2017

Mr. Raju Sharma (Debt portion) w.e.f 3rd May 2017

Mr. Raju Sharma (w.e.f. 3rd May, 2017) Mr. Bhupesh Kalyani Mr. Ashish Mishra (w.e.f 5th September 2017)

Minimum / Maximum Application Amount

Minimum Application Amount (Lumpsum) Maximum Application Amount (Lumpsum)New Purchase – Rs. 5000/- and in multiples of Re. 1/- thereafterFor IEAF – Rs. 500/- and in multiples of Rs. 500/- thereafter

New & Additional Purchase: No limit

For IDBI Gold : Authorized participants & Large investors - In creation unit lot of 1000 units and multiples of 1000 units thereof or in equivalent amount in cash.

Minimum Additional Investment

Rs. 1000/- and in multiples of Re. 1/- thereafterFor IEAF – Rs. 500/- and in multiples of Rs. 500/- thereafter -

SIP • Rs. 500 per month for a minimum period of 12 months.

NA• Rs. 1000 per month for a minimum period of 6 months.• Rs. 1500 per quarter for a minimum period of 4 quarters.• Only for IUSTF: Rs. 500 per day for a minimum of 30 installments continuously for all business days.Investments above minimum amount mentioned shall be made in multiples of Re.1/- for all SIP, except for IEAF it shall be made in multiples of Rs. 500/-. In case of SIP transactions, statutory lock-in period of 3 years is applicable to every installment made to IEAF.

SWP & STP Minimum balance in the Scheme should be Rs.25,000/- at the time of enrollment. SWP/STP from IEAF to any other Schemes of IDBI Mutual Fund is available only after completion of lock-in period of 3 years.STP:Sub-options for STP Eligible dates for effect Minimum amount per transfer*Daily (only offered under ILIQF, IUSTF and ISTBF) All Business days Rs. 200/-Weekly 1st Business day of the week Rs. 1,000/-Monthly 1st, 5th, 10th, 15th, 20th and 25th of the month Rs. 1,000/-Quarterly 1st, 5th, 10th, 15th, 20th and 25th of the each quarter Rs. 2,500/-

Daily STP amount per transfer Minimum term / duration applicableRs. 200/- to less than Rs. 500/- 30 Business daysRs. 500/- to less than Rs. 1,000/- 12 Business daysRs. 1,000/- and above 6 Business daysWeekly & Monthly STP: 12 Installments; Quarterly STP: 4 Installments

(*Multiples of Re.1/- thereafter except under IEAF where STP will be made at a minimum of Rs.500/- and in multiples of Rs.500/- thereafter.)SWP: Minimum amount for each withdrawal is Rs.1000/- and in multiples of Re.1/- thereafter for a minimum period of 6 months. Withdrawal on 25th of each month or, if 25th is a holiday, then the next effective business day.

NA

Full Form of SIP, SWP & STP is “Systematic Investment Plan”, “Systematic Withdrawal Plan” & “Systematic Transfer Plan”

Plans, options and sub-optionsNo Scheme Plan* Option Sub-option / Frequency of

DividendMode of dividend payment

1 IEAF Regular & Direct Dividend NA Payout/ SweepGrowth NA NA

2 IIT100EF Regular & Direct Dividend NA Reinvestment / Payout/ SweepGrowth NA NA

3 IDEF Regular & Direct Dividend NA Reinvestment / Payout/ SweepGrowth NA NA

4 INIF Regular & Direct Dividend NA Reinvestment / Payout/ SweepGrowth NA NA

5 INJIF Regular & Direct Dividend NA Reinvestment / Payout/ SweepGrowth NA NA

6 IMF Regular & Direct Dividend NA Reinvestment / Payout/ SweepGrowth NA NA

7 ISF Regular & Direct Dividend NA Reinvestment / Payout/ SweepGrowth NA NA

8 IPF Regular & Direct Dividend NA Reinvestment / Payout/ SweepGrowth NA NA

9 IF30EF Regular & Direct Dividend NA Reinvestment / Payout/ SweepGrowth NA NA

10 IMIP Regular & Direct Dividend Monthly/ Quarterly Reinvestment / Payout/ SweepGrowth / Growth with Regular Cash Flow Plan (RCFP) NA NA

11 ILIQF Regular & Direct Dividend Daily/ Weekly/ Monthly Reinvestment / Payout/ SweepGrowth NA NA

12 IUSTF Regular & Direct Dividend Daily/ Weekly/ Monthly Reinvestment / Payout/ SweepGrowth NA NA

Statutory Details: IDBI Mutual Fund has been set up as a trust sponsored by IDBI Bank Ltd. with IDBI MF Trustee Company Ltd. as the Trustee (Trustee under the Indian Trusts Act, 1882) and with IDBI Asset Management Ltd. as the Investment Manager. Mutual fund investments are subject to market risks, read all scheme related documents carefully.

15

No Scheme Plan* Option Sub-option / Frequency of Dividend

Mode of dividend payment

13 ICDOF Regular & Direct Dividend Quarterly/Annually Reinvestment / Payout/ SweepGrowth NA NA

14 ISTBF Regular & Direct Dividend Weekly/ Monthly Reinvestment / Payout/ SweepGrowth NA NA

15 IDBF Regular & Direct Dividend Quarterly/Annually Reinvestment / Payout/ SweepGrowth NA NA

16 IGF Regular & Direct Dividend Quarterly/Annually Reinvestment / Payout/ SweepGrowth NA NA

17 IGFOF Regular & Direct Growth NA NA*All plans other than Direct plan will be treated as Regular Plan. For all schemes, Sweep facility is allowed only if dividend amount is Rs.1000/- & above.

The Mutual Fund is not assuring any dividend nor is it assuring that it will make any dividend distributions. All dividend distributions are subject to the availability of distributable surplus and would depend on the performance of the scheme(s) and will be at the discretion of the IDBIAMC and IDBIMF Trustee Company.

Load Structure (for lumpsum & SIP)

Entry Load (For normal transactions / Switch-in and SIP) – Not applicableExit Load (Redemption / Switch-out/ Transfer/ SWP):For INIF, INJIF, ILIQF, IUSTF, ISTBF & IDBIGOLD : NilFor IDBF, IPF, IF30EF, IMIP, IIT100EF, IDEF, IMF, ISF & IGFOF- 1% for exit within 12 months from the date of allotment.For IEAF: Nil. (Statutory lock-in of 3 years).For IDBI Gilt Fund: 0.50% for exit within 30 days from the date of allotment.For ICDOF: 2% for exit up to & including 18 months from the date of allotment.The exit load will be applicable for both normal transactions and SIP transactions. In case of SIP, the date of allotment for each installment for subscription will be reckoned for charging exit load on redemption.

14

16


CERTIFICATE OF DEPOSITS 5.37Ujjivan Small Finance Bank Ltd. ICRA A1+ 1.79National Bank of Agriculture & Rural Development CRISIL A1+ 1.79Equitas Small Finance Bank CRISIL A1+ 1.79COMMERCIAL PAPERS 68.40Steel Authority of India Ltd. CARE A1+ 9.81ONGC Mangalore Petrochemicals Ltd. CRISIL A1+ 4.96National Bank of Agriculture & Rural Development ICRA A1+ 4.47Indiabulls Housing Finance Ltd. CRISIL A1+ 3.61IL&FS Financial Services Ltd. ICRA A1+ 3.51TATA Motors Finance Ltd. CARE A1+ 3.41Bajaj Electricals Ltd. ICRA A1+ 2.68Cox And Kings Ltd. CARE A1+ 2.68Capital First Ltd. ICRA A1+ 2.61Aditya Birla Finance Ltd. ICRA A1+ 2.06DHFL Vysya Housing Finance Ltd. CRISIL A1+ 1.89Raymond Ltd. CRISIL A1+ 1.80HSIL Ltd. CARE A1+ 1.80TATA Motors Finance Ltd. ICRA A1+ 1.80TATA Housing Development Co. Ltd. CARE A1+ 1.79Haldia Energy Ltd. CARE A1+ 1.79Housing Development Finance Corpn. Ltd. CRISIL A1+ 1.79KEC International Ltd. CRISIL A1+ 1.78L & T Finance Ltd. CARE A1+ 1.78


TATA Power Renewable Energy Ltd.CRISIL A1+SO 1.71

Indostar Capital Finance Ltd. CRISIL A1+ 1.71Cholamandalam Investment & Finance Company Ltd. ICRA A1+ 1.35ECL Finance Ltd. CRISIL A1+ 0.90TVS Credit Services Ltd. CRISIL A1+ 0.90National Fertilizers Ltd. ICRA A1+ 0.90JM Financial Asset Reconstruction Co. Pvt. Ltd. CARE A1+ 0.89National Bank of Agriculture & Rural Development CRISIL A1+ 0.81Fedbank Financial Services Ltd. CRISIL A1+ 0.63Siyaram Silk Mills Ltd. CRISIL A1+ 0.54Eveready Industries India Ltd. IND A1+ 0.54India Bulls Housing Finance Ltd. ICRA A1+ 0.45NRB Bearings Ltd. CRISIL A1+ 0.45JM Financial Capital Ltd. CARE A1+ 0.45Reliance Jio Infocomm Ltd. CRISIL A1+ 0.09TATA Steel Ltd. ICRA A1+ 0.09FIXED DEPOSITS 9.05Lakshmi Vilas Bank N.A 5.43Jammu and Kashmir Bank N.A 3.62T-BILL 25.1791 DTB 2018 SOV 25.17CBLO 0.95Cash & Cash Receivables -8.93TOTAL 100.00

IDBI Liquid Fund (ILIQF)(An open-ended liquid scheme)



Asset Profile

5.37%

68.40%

9.05%

25.17%

0.95%

-8.93%-20.00%

-10.00%

0.00%

10.00%

20.00%

30.00%

40.00%

50.00%

60.00%

70.00%

80.00% Certificate of Deposits

Fixed Deposits

Commercial Papers

CBLO


T-Bills

Rating Profile

72.06

1.719.05

25.17

0.95

-8.93-20.00

-10.00

0.00

10.00

20.00

30.00

40.00

50.00

60.00

70.00

80.00 A1+

A1+SO

Fixed Deposits

CBLO

SOV


Product LabelThis product is suitable for investors who are seeking*: Riskometerl High level of liquidity along with regular income for

short terml Investments in Debt / Money Market Instruments

with maturity / residual maturity up to 91 days

Investors understand that their principal will be at Low risk


Scheme Features

Investment objective:The investment objective of the scheme will be to provide investors with high level of liquidity along with regular income for their investment. The scheme will endeavour to achieve this objective through an allocation of the investment corpus in a low risk portfolio of money market and debt instruments.

Fund Manager: Total Experience: Over 25 YearsMr. Raju Sharma (Managing the Scheme since 3rd May, 2017)

Inception Date: 9th July, 2010

Benchmark:CRISIL Liquid Fund Index

NAV as on 31st December 2017 (` per unit):Regular Direct

Growth 1819.2387 1828.4254Daily Dividend 1005.2683 1002.3548Weekly Dividend 1014.6995 1002.7745Monthly Dividend 1004.4084 1002.9438Bonus^ 1364.4331 1371.3170^ Bonus option in this scheme has been discontinued from 15th July, 2015.

Monthly Average AUM: ` 6,691.15 Crs.

AUM as on 31st December 2017:` 4,432.43 Crs.


Quantitative Measures:YTM : 6.48%Average Maturity : 49 DaysModified Duration : 49 Days




Others (` Per Unit)



IDBI Liquid Fund - Monthly Dividend (Regular Plan)25th December, 2017 3.5988 3.3338 1,008.3642 1,003.559526th November, 2017 4.1481 3.8548 1,009.0981 1,003.528924th October, 2017 3.8125 3.5239 1008.6425 1003.5289

IDBI Liquid Fund - Monthly Dividend (Direct Plan)25th December, 2017 3.6838 0.0000 1,006.9993 1,002.079926th November, 2017 4.2188 0.0000 1,007.7438 1,002.079924th October, 2017 3.8775 0.0000 1007.2804 1002.0799


17


CERTIFICATE OF DEPOSITS 26.74ICICI Bank Ltd. ICRA A1+ 9.24Ujjivan Small Finance Bank Ltd. CRISIL A1+ 9.20Axis Bank Ltd. CRISIL A1+ 8.30COMMERCIAL PAPERS 43.11Housing Development Finance Corpn. Ltd. ICRA A1+ 9.22Cox And Kings Ltd. CARE A1+ 9.12Power Finance Corpn. Ltd. CARE A1+ 9.11HUDCO Ltd. ICRA A1+ 8.31Fedbank Financial Services Ltd. CRISIL A1+ 7.36FIXED COUPON BONDS 28.40DHFL Vysya Housing Finance Ltd. CARE

AA+(SO) 5.69J K Cement Ltd. CARE AA- 4.82Punjab National Bank Ltd. IND AA+ 3.80


ECL Finance Ltd. ICRA AA 1.93Aditya Birla Finance Ltd. ICRA AA+ 1.91Power Finance Corpn. Ltd. CRISIL AAA 1.91Cholamandalam Investment & Finance Company Ltd. ICRA AA 1.90Bank of Baroda Ltd. CRISIL AA+ 1.87Piramal Enterprises Ltd. ICRA AA 1.14Axis Bank Ltd. CRISIL AA+ 1.13Sunny View Estates Pvt Ltd. ICRA AA

(SO) 0.95Dewan Housing Finance Corpn. Ltd. CARE AAA 0.95Adani Transmission Ltd. IND AA+ 0.38CBLO 0.21Cash & Cash Receivables 1.54TOTAL 100.00

IDBI Ultra Short Term Fund (IUSTF)(An open-ended debt scheme)



Asset Profile

Commercial Papers43.11%


CBLO0.21%

Certificate of Deposits26.74%

Cash & Cash Rececivables1.54%

Rating Profile


1.75%

AA+ (SO)5.69%

AA-4.82% AA (SO)

0.95%

A1+69.85%

AA+9.10%

AA4.98%

AAA2.86%


l Regular income for short terml Investments in Debt / Money Market Instruments

with maturity predominantly between a liquid fund and short term fund while maintaining portfolio risk profile similar to liquid fund

Investors understand that their principal will be at Moderately Low risk


Scheme Features

Investment objective:The objective of the scheme will be to provide investors with regular income for their investment. The scheme will endeavour to achieve this objective through an allocation of the investment corpus in a diversified portfolio of money market and debt instruments with maturity predominantly between a liquid fund and a short term fund while maintaining a portfolio risk profile similar to a liquid fund.

Fund Manager: Total Experience: Over 15 YearsMr. Bhupesh Kalyani (Managing the Scheme since 1st February, 2017)

Inception Date: 3rd September, 2010

Benchmark:CRISIL Liquid Fund Index


Growth 1789.4046 1841.6812Daily Dividend 1017.0054 1031.1905Weekly Dividend 1049.9199 1055.4595Monthly Dividend 1062.8435 1374.1486Bonus^ 1789.4333 1840.8163

^Bonus option in this scheme has been discontinued from 15th July, 2015.




Quantitative Measures:YTM : 7.78%Average Maturity : 327 DaysModified Duration : 276 Days




Others (` Per Unit)



IDBI Ultra Short Term Fund - Monthly Dividend (Regular Plan)26th December, 2017 0.9740 0.9023 1,063.9229 1,062.600227th November, 2017 1.5245 1.4124 1,063.2452 1,061.226025th October, 2017 2.1978 2.0362 1061.4705 1059.0238

IDBI Ultra Short Term Fund - Monthly Dividend (Direct Plan)26th December, 2017 1.6273 0.0000 1,375.9445 1,373.761827th November, 2017 2.3885 0.0000 1,374.5920 1,371.439425th October, 2017 3.2476 0.0000 1371.6674 1367.9773


18

IDBI Short Term Bond Fund (ISTBF)(An open-ended debt scheme)


Asset Profile

Commercial Papers13.35%Fixed Coupon Bonds

78.05%

CBLO0.19%

Certificate of Deposits6.58%

Cash & Cash Rececivables1.82%

Rating Profile

AA-8.27%

A+1.36%


2.01%

AA23.14%

AA+ (SO)6.78%

A1+19.94%

AAA31.68%

AA+6.82%


l Regular income for short terml Investments in Debt / Money Market Instruments

with duration / maturity / residual maturity not exceeding 3 years

Investors understand that their principal will be at Moderately Low risk


Scheme Features

Investment objective:The objective of the scheme will be to provide investors with regular income for their investment. The scheme will endeavour to achieve this objective through an allocation of the investment corpus in a diversified portfolio of debt and money market instruments.


Inception Date: 23rd March, 2011

Benchmark:CRISIL Short Term Bond Fund Index


Growth 17.0340 17.7637Weekly Dividend 11.2176 12.0242Monthly Dividend 11.6136 14.5175




Quantitative Measures:YTM : 7.98%Average Maturity : 1.23 YearsModified Duration : 1.08 Years




Others (` Per Unit)



IDBI Short Term Bond Fund - Monthly Dividend (Regular Plan)26th December, 2017 0.0080 0.0074 11.6213 11.609727th November, 2017 0.0148 0.0137 11.6177 11.599225th October, 2017 0.0206 0.0191 11.6039 11.5768

IDBI Short Term Bond Fund - Monthly Dividend (Direct Plan)25th June, 2014 0.0443 0.0424 10.9455 10.894526th May, 2014 0.0748 0.0716 10.9656 10.873625th April, 2014 0.0460 0.0440 10.8967 10.8443


Portfolio as on 31/12/2017Issuer Name Rating % To Net Assets*CERTIFICATE OF DEPOSITS 6.58Axis Bank Ltd. CRISIL A1+ 6.58COMMERCIAL PAPERS 13.35Steel Authority of India Ltd. CARE A1+ 6.76HUDCO Ltd. ICRA A1+ 6.59FIXED COUPON BONDS 78.05Piramal Enterprises Ltd. ICRA AA 9.49J K Cement Ltd. CARE AA- 8.27Reliance Gas Transportation Infrastructure Ltd. CRISIL AAA 6.96Exim Bank CRISIL AAA 6.91ECL Finance Ltd. ICRA AA 6.89Power Finance Corpn. Ltd. CRISIL AAA 6.87Dewan Housing Finance Corpn. Ltd. CARE AAA 6.85TATA Capital Financial Services Ltd. CARE AA+ 6.82DHFL Vysya Housing Finance Ltd. CARE AA+(SO) 6.78Cholamandalam Investment & Finance Co. Ltd. ICRA AA 6.77LIC Housing Finance Ltd. CRISIL AAA 4.10Ujjivan Financial Services ICRA A+ 1.36CBLO 0.19Cash & Cash Receivables 1.82TOTAL 100.00

19

IDBI Corporate Debt Opportunities Fund (ICDOF)(An open-ended income scheme)



Asset Profile


CBLO0.14%


Rating Profile

AA+24.60%

AAA22.22%

AA10.32%

A+6.39%

AA+ (SO)11.90%

AA (SO)11.95%

AA-9.67%


2.94%


l Regular income & capital appreciation through active management for at least medium term horizon

l Investments in Debt / Money Market Instruments across the investment grade credit rating and maturity spectrum

Investors understand that their principal will be at Moderate risk


Scheme Features

Investment objective:The objective of the Scheme is to generate regular income and opportunities for capital appreciation while maintaining liquidity through active management of a diversified portfolio comprising of debt and money market instruments across the investment grade credit rating and maturity spectrum. However, there can be no assurance that the investment objective of the scheme will be realized / achieved.


Inception Date: 3rd March, 2014

Benchmark:CRISIL Short Term Bond Fund Index


Growth 13.5300 14.0117Quarterly Dividend 10.4783 10.6552Annual Dividend 10.9074 13.7303





Load Structure:Entry Load : Not ApplicableExit Load : for Lumpsum - 2% for exit (Redemption/Switch-out/Transfer/SWP) upto &

including 18 months from the date of allotment. for SIP - 2% for exit (Redemption/Switch-out/Transfer/SWP) upto &

including 18 months from the date of allotment of each installment.



Others (` Per Unit)



IDBI Corporate Debt Opportunities Fund - Quarterly Dividend (Regular Plan)27th July, 2017 0.2355 0.2181 10.6024 10.276020th April, 2017 0.8315 0.7703 11.6110 10.456619th October, 2015 0.1189 0.1101 10.5176 10.3552IDBI Corporate Debt Opportunities Fund - Quarterly Dividend (Direct Plan)27th July, 2017 0.3052 0.0000 10.8205 10.397820th April, 2017 0.9376 0.0000 11.9408 10.639719th October, 2015 0.1311 0.0000 10.6789 10.4999IDBI Corporate Debt Opportunities Fund - Annual Dividend (Regular Plan)20th April, 2017 1.0921 0.0000 12.0655 10.550227th March, 2015 0.6304 0.0000 11.0963 10.2355


Issuer Name Rating % To Net Assets*FIXED COUPON BONDS 97.06Sunny View Estates Pvt. Ltd. ICRA AA (SO) 11.95Punjab National Bank Ltd. IND AA+ 11.93DHFL Vysya Housing Finance Ltd. CARE AA+(SO) 11.90Piramal Enterprises Ltd. ICRA AA 10.32J K Cement Ltd. CARE AA- 9.67Reliance Jio Infocomm Ltd. CRISIL AAA 8.32Ujjivan Financial Services ICRA A+ 6.39Adani Transmission Ltd. IND AA+ 6.38Axis Bank Ltd. CRISIL AA+ 6.29Indian Railways Finance Corpn. Ltd. CRISIL AAA 4.22Rural Electrification Corpn. Ltd. CRISIL AAA 4.05NTPC Ltd. CRISIL AAA 4.03LIC Housing Finance Ltd. CRISIL AAA 1.60CBLO 0.14Cash & Cash Receivables 2.80TOTAL 100.00

20

IDBI Dynamic Bond Fund (IDBF)(An open-ended debt scheme)



Asset Profile


CBLO11.71%


Gov’t Securities55.08%

Rating Profile

AA+14.48%

SOV55.08%

CBLO and Cash &Cash

15.40%Receivables

AA-8.48%

AA6.56%


l Generate income along with attendant liquidity through active management of portfolio with at least medium term horizon

l Investments in Debt (including Government Securities) / Money Market Instruments

Investors understand that their principal will be at Moderate risk*Investors should consult their financial advisors if in doubt about whether the product is suitable for them.

Scheme Features

Investment objective:The objective of the scheme is to generate regular income while maintaining liquidity through active management of a portfolio comprising of debt and money market instruments.


Inception Date: 21st February 2012

Benchmark:CRISIL Composite Bond Fund Index







Load Structure:Entry Load : Not ApplicableExit Load : for Lumpsum - 1% for exit (Redemption/Switch-out/Transfer/SWP) on or before

12 months from the date of allotment. For SIP - 1% for exit (Redemption/Switch-out/Transfer/SWP) on or before




Others (` Per Unit)



IDBI Dynamic Bond Fund - Quarterly Dividend (Regular Plan)27th July, 2017 0.1961 0.1817 10.7876 10.501220th April, 2017 0.7980 0.7394 11.7089 10.588619th October, 2015 0.0585 0.0542 10.7392 10.6605

IDBI Dynamic Bond Fund - Quarterly Dividend (Direct Plan)29th September, 2014 0.3507 0.3358 10.7090 10.244517th April, 2014 0.3896 0.3732 10.7673 10.2862

IDBI Dynamic Bond Fund - Annual Dividend (Regular Plan)20th April, 2017 0.8926 0.8270 11.6510 10.399927th March, 2015 0.7992 0.7412 11.3590 10.278217th April, 2014 0.1403 0.1343 10.3119 10.1496

IDBI Dynamic Bond Fund - Annual Dividend (Direct Plan)27th March, 2015 0.8203 0.7607 11.4143 10.305117th April, 2014 0.1636 0.1567 10.3474 10.1555


Issuer Name Rating % To Net Assets*FIXED COUPON BONDS 29.52Bank of Baroda Ltd. CRISIL AA+ 10.66J K Cement Ltd. CARE AA- 8.48Piramal Enterprises Ltd. ICRA AA 6.56Axis Bank Ltd. CRISIL AA+ 3.83GOVT SECURITIES 55.0806.79 GOI 2027 SOV 29.7706.68 GOI 2031 SOV 25.31CBLO 11.71Cash & Cash Receivables 3.69TOTAL 100.00

21

IDBI Gilt Fund (IGF)(An open-ended dedicated gilt scheme)



Asset Profile

Gov’t Securities

CBLO


97.64%

0.99% 1.36%0.00%

20.00%

40.00%

60.00%

80.00%

100.00%

120.00%


l Long term regular income along with capital appreciation with at least medium term horizon

l Investments in dated Central & State Government Securities / T-Bills / Money Market Instrument

Investors understand that their principal will be at Moderate risk


Issuer Name Rating % to Net Assets*

GOV'T SECURITIES 97.64

06.79 GOI 2027 SOV 58.38

06.68 GOI 2031 SOV 39.27

CBLO 0.99

Cash & Cash Receivables 1.36

TOTAL 100.00

Scheme FeaturesInvestment objective:The investment objective of the scheme would be to provide regular income along with opportunities for capital appreciation through investments in a diversified basket of central government dated securities, state government securities and treasury bills. However, there can be no assurance that the investment objective of the scheme will be realized / achieved.


Inception Date: 21st December, 2012

Benchmark:CRISIL Gilt Index







Load Structure:Entry Load : Not ApplicableExit Load : for Lumpsum - 0.50% for exit (Redemption/Switch-out/Transfer/SWP) within

30 days from the date of allotment. For SIP - 0.50% for exit (Redemption/Switch-out/Transfer/SWP) within

30 days from the date of allotment of each installment.



Others (` Per Unit)



IDBI Gilt Fund - Quarterly Dividend (Regular Plan)27th July, 2017 0.2353 0.2180 10.6557 10.310319th October, 2015 0.1533 0.1421 10.5736 10.38556th July, 2015 0.0869 0.0805 10.3237 10.1936IDBI Gilt Fund - Quarterly Dividend (Direct Plan)27th July, 2017 0.3575 0.0000 11.7938 11.277519th October, 2015 0.1639 0.1518 11.1166 10.91536th July, 2015 0.0961 0.0890 10.8506 10.7073IDBI Gilt Fund - Annual Dividend (Regular Plan)20th April, 2017 1.0847 0.0000 12.0341 10.518427th March, 2015 0.9936 0.9215 11.8111 10.472217th April, 2014 0.3585 0.3433 10.6705 10.2259

IDBI Gilt Fund - Annual Dividend (Direct Plan)20th April, 2017 0.9847 0.0000 12.2581 10.880927th March, 2015 0.9768 0.0000 11.8291 10.513717th April, 2014 0.3896 0.3732 10.7019 10.2176


22

IDBI Gold Fund (IGFOF)(An open-ended fund of funds scheme)

Portfolio as on 31/12/2017Issuer Name % To Net Assets*

Units of IDBI Gold Exchange Traded Fund 100.13

CBLO 0.01

Cash & Cash Receivables -0.14

TOTAL 100.00


Asset Profile

Units of IDBI Gold ETF

CBLO


100.13%

0.01%

-0.14%

0.00%

20.00%

40.00%

60.00%

80.00%

100.00%

120.00%

-20.00%

The Total Expense Ratio (TER) including the weighted average of charges levied by the underlying schemes will not exceed 1.70% p.a. of the daily net assets. The maximum TER after including the additional expense towards distribution of assets to cities beyond Top 15 cities, if any, that may be charged to the Scheme will not exceed 2.00% p.a of the daily net assets. The expense ratio under direct plan shall exclude distribution expenses, commission, etc.


l To replicate returns of IDBI Gold ETF with atleast medium term horizon

l Investments in units of IDBI Gold ETF / Money Market Instruments / IDBI Liquid Fund Scheme



Scheme Features

Investment objective:The investment objective of the Scheme will be to generate returns that correspond closely to the returns generated by IDBI Gold Exchange Traded Fund.


Inception Date: 14th August, 2012

Benchmark:Domestic price of Gold


Growth 8.5808 8.7509




Load Structure:Entry Load : Not ApplicableExit Load : for Lumpsum - 1% for exit (Redemption/Switch-out/Transfer/SWP) within

12 months from the date of allotment. for SIP - 1% for exit (Redemption/Switch-out/Transfer/SWP) within


AUM REPORT FOR THE QUARTER ENDED 31/12/2017

Rs. in Lakhs

Asset class wise disclosure of AUM & AAUM Disclosure of percentage of AUM by geography (Includes FOF Domestic)

Category AUM as on the last day of the Quarter

Average AUM for the Quarter

Geographical Spread % of Total AUM as on the last day of the Quarter

Income 77,158.41 95,499.50 Top 5 Cities 59.90%

Equity (other than ELSS) 197,459.57 176,339.83 Next 10 Cities 17.45%

Balanced 43,243.18 43,457.92 Next 20 Cities 10.81%

Liquid 443,243.34 673,714.63 Next 75 Cities 8.83%

Gilt 2,146.01 2,390.23 Others 3.00%

Equity - ELSS 68,728.53 66,890.26 TOTAL 100.00%

GOLD ETF 6,874.66 7,053.85

Other ETF 0.00 0.00

Fund of Fund investing overseas 0.00 0.00

TOTAL 838,853.71 1,065,346.22

Note : Since IDBI Gold Fund (FOF Domestic) invests predominently in units of IDBI Gold Exchange Traded Fund, the AUM and Average AUM of IDBI Gold Fund are disclosed separately below:

Rs. in Lakhs

Asset class wise disclosure of AUM & AAUM

Category AUM as on the last day of the Quarter

Average AUM for the Quarter

FOF (Domestic) 3,592.64 3,726.26

23

IDBI Gold Exchange Traded Fund (IDBIGOLD)(An open-ended gold exchange traded scheme )

Portfolio as on 31/12/2017Issuer Name % To Net Assets*

Physical Gold & Gold Related Instruments# 98.21

CBLO 1.74

Cash & Cash Receivables 0.05

TOTAL 100.00

* Rounded off to the nearest two digits after the decimal point.# Comprises of 40 Kgs deposited in the Gold Monetisation Scheme of Bank of Nova Scotia.

Asset Profile

Physical Gold & Gold Related Instruments

CBLO


98.21%

1.74% 0.05%0.00%

20.00%

40.00%

60.00%

80.00%

100.00%

120.00%


l To replicate the performance of gold in domestic prices with at least medium term horizon

l Investments in physical gold and gold related instruments / debt & money market instruments



Scheme FeaturesInvestment objective:To invest in physical gold and gold related instruments with the objective to replicate the performance of gold in domestic prices. The ETF will adopt a passive investment strategy and will seek to achieve the investment objective by minimizing the tracking error between the Fund and the underlying asset.


Inception Date: 9th November, 2011

Benchmark:Domestic price of Physical Gold

NAV as on 29th December 2017 (` per unit):

NAV 2783.5333Physical Gold Price* 2935.3132Cash Component -151.7799* Source: Bank of Nova Scotia (Custodian for IDBI Gold ETF)



Expense Ratio: (Weighted Average for the month)Regular : 0.5702%Expense ratio is inclusive of GST on management fees.

Quantitative Measures:Tracking Error : 0.7703 % Annualised tracking error for last 12 month's period.


Listing:The Scheme is listed on National Stock Exchange of India Ltd. (NSE) and Bombay Stock Exchange Ltd. (BSE).

NSE Disclaimer for IDBI Gold Exchange Traded Fund : It is to be distinctly understood that the permission given by NSE should not in any way be deemed or construed that the Scheme Information Document has been cleared or approved by NSE nor does it certify the correctness or completeness of any of the contents of the Draft Scheme Information Document. The investors are advised to refer to the Scheme Information Document for the full text of the ‘Disclaimer Clause of NSE’.BSE Disclaimer for IDBI Gold Exchange Traded Fund : It is to be distinctly understood that the permission given by BSE Ltd. should not in any way be deemed or construed that the SID has been cleared or approved by BSE Ltd. nor does it certify the correctness or completeness of any of the contents of the SID. The investors are advised to refer to the SID for the full text of the ‘Disclaimer Clause of BSE Ltd.’

Our Branches:Ahmedabad : IDBI Mutual Fund, IDBI Complex, 3rd Floor, Near Lal Bungalows, Off. C G Road, Ahmedabad - 380 006. Tel.: 079 - 64502167/68. Fax: 079 - 26400844.Bengaluru : IDBI Mutual Fund, No.7, First Level, Unit No. 116, Prestige Centre Point, Cunningham Road, Bengaluru - 560 052. Tel.: 080 - 41495263.Chandigarh : IDBI Mutual Fund, IDBI Bank Ltd., First Floor, SCO 162 - 163, Sector - 9C, Chandigarh - 160 009. Tel.: 0172-5076705.Chennai : IDBI Mutual Fund, No. 6/11 Pattery Square, 1st Floor, Balfour Road, Kellys, Kilpauk, Chennai - 600 010. Tel.: 044 - 65552320. Fax: 044 - 43456110.Delhi : IDBI Mutual Fund, IDBI Bank, 5th Floor, Red Cross Building, Red Cross Road, Parliament Street, New Delhi - 110 001. Tel.: 011- 66130050. Fax: 011 - 66130051.Hyderabad : IDBI Mutual Fund, 3rd Floor, 5 - 9 - 89/1, Chapel Road, Hyderabad - 500 001. Tel.: 040 - 66663559. Fax: 040 - 66663889.Indore : IDBI Mutual Fund, IDBI Bank Ltd., Ground Floor, 16-C, Omni Palace, Ratlam Kothi Main Road, Indore - 452 001. Tel.: 0731-6679127.Jaipur : IDBI Mutual Fund, D-24, Durlabh Niwas, Prithvi Raj Road, C-Scheme, Jaipur - 302 001.Kochi : IDBI Mutual Fund, IDBI Bank, Corporate Office, Near Passport Office, Panampally Nagar, Kochi - 680 366. Tel.: 0484 - 6462112.Kolkata : IDBI Mutual Fund, IDBI House, 6th Floor, 44, Shakespeare Sarani, Kolkata - 700 017. Tel.: 033 - 66557627. Fax: 033 - 66557629.Lucknow : IDBI Mutual Fund, IDBI Bank, 2 M G Marg, Kisan Sekhari Bhawan, Hazratganj, Lucknow - 226 001. Tel.: 0522- 2202863 / 6500103.Mumbai : IDBI Mutual Fund, Mafatlal Center, 5th Floor, Nariman Point, Mumbai - 400021. Tel.: 022 - 66442800.Pune : IDBI Mutual Fund, IDBI House, 1st Floor, Dnayaneshwar Paduka Chowk, F C Road, Shivaji Nagar, Pune - 411 004. Tel.: 020-66057037/36. Fax: 020 - 66057035.

Contact usIDBI Asset Management Limited

(Investment Manager to IDBI Mutual Fund)CIN: U65100MH2010PLC199319

Registered Office: IDBI Tower, WTC Complex, Cuffe parade, Colaba, Mumbai - 400005Corporate Office: 5th Floor, Mafatlal Centre, Nariman Point, Mumbai- 400021

Phone: 022-66442800 Fax: 022-66442801 E-mail: [email protected] Website: www.idbimutual.co.in

SMS: IDBIMF on 09220092200 Toll-free: 1800-419-4324 (from any landline or mobile number across India, between 9 am-6 pm from Monday to Saturday)

24

SCHEME PERFORMANCE - REGULAR PLANS (As on 31st December, 2017)

Schemes Managed by Fund Manager (FM) - Mr. V. Balasubramanian Total Experience: Over 36 Years

IDBI Equity Advantage Fund (IEAF) Inception date: 10th September, 2013

PeriodReturns (in %)

IDBI Equity Advantage Fund (G)

S&P BSE 200 Index#

S&P BSE SENSEX##

1 year 35.39 34.54 29.17

3 years 11.78 11.18 7.52

Since Inception (SI) : Upto December 31, 2017 26.13 17.68 13.17

Value of investment of Rs. 10000/- (SI) Rs.27,160.00 Rs.20,154.30 Rs.17,030.89

FM Managing this Scheme since inception. The Regular Plan of this scheme is in existence for a period less than 5 years.

Schemes Managed by Fund Manager (FM) - Ms. Uma Venkatraman Total Experience: Over 15 Years

IDBI India Top 100 Equity Fund (IIT100EF) Inception date: 15th May 2012


IDBI India Top 100 Equity Fund (G)

Nifty 100 Index#

Nifty 50 Index##

1 year 29.19 32.40 29.95

3 years 10.51 10.06 8.48

5 years 15.14 13.43 12.24


Value of investment of Rs.10000/- (SI) Rs.24,340.00 Rs.22,667.09 Rs.21,305.13

FM Managing this Scheme since 5th September 2017.

IDBI Nifty Index Fund (INIF) Inception date: 25th June, 2010


IDBI Nifty Index Fund (G)

Nifty 50 Index-TRI#

Nifty 50 Index##

1 year 28.64 31.59 29.95

3 years 7.75 9.82 8.48

5 years 11.76 13.60 12.24




IDBI Nifty Junior Index Fund (INJIF) Inception date: 20th September, 2010


IDBI Nifty Junior Index Fund (G)

Nifty Next 50 Index-TRI#

Nifty 50 Index##

1 year 45.16 49.39 29.95

3 years 18.18 20.72 8.48

5 years 19.51 21.94 12.24




Schemes Managed by Fund Manager (FM) - Mr. Ashish Mishra Total Experience: Over 11 Years

IDBI Diversified Equity Fund (IDEF) Inception date: 28th March, 2014


IDBI Diversified Equity Fund (G)

S&P BSE 500# S&P BSE SENSEX##

1 year 32.01 37.24 29.17

3 years 11.77 12.14 7.52



FM Managing this Scheme since 5th September 2017.The Regular Plan of this scheme is in existence for a period less than 5 years.

Scheme Managed by Fund Managers (FM) - Mr. V Balasubramanian (Equity Portion) - Total Experience: Over 36 Years &

Mr. Raju Sharma (Debt Portion) Total Experience: Over 25 Years

IDBI Prudence Fund (IPF) Inception Date: 24th October, 2016

Period

Returns (in %)IDBI

Prudence Fund (G)

50% S&P BSE 500 Index + 50% CRISIL Composite

Bond Fund Index

Nifty 50 Index##

1 year 22.79 20.13 29.95Since Inception (SI) : Upto December 31, 2017 18.18 13.27 17.45Value of investment of Rs.10000/- (SI) Rs.12,180.40 Rs.11,584.70 Rs.12,091.81Mr. V Balasubramanian (Equity Portion) since 24th October 2016 &Mr. Raju Sharma Managing this Scheme (Debt Portion) since 24th October, 2017

Scheme Managed by Fund Managers (FM) - Mr. Raju Sharma (Debt Portion) - Total Experience: Over 25 Years &

Ms. Uma Venkatraman (Equity Portion) - Total Experience: Over 15 Years

IDBI Monthly Income Plan (IMIP) Inception date: 7th March, 2011


IDBI Monthly Income Plan (G)

CRISIL MIP Blended Index#

CRISIL 10 Yr Gilt Index##

1 year 4.03 8.41 0.053 years 5.05 8.88 7.435 years 6.53 9.46 7.03Since Inception (SI) : Upto December 31, 2017 6.96 9.09 6.75Value of investment of Rs.10000/- (SI) Rs.15,818.20 Rs.18,094.47 Rs.15,608.55Mr. Raju Sharma Managing this Scheme (Debt Portion) since 3rd May 2017 & Ms. Uma Venkatraman Managing this Scheme (Equity Portion) since 5th September 2017

Schemes Managed by Fund Manager (FM) - Mr. Raju Sharma - Total Experience: Over 25 Years

IDBI Liquid Fund (ILIQF) Inception date: 9th July, 2010


IDBI Liquid Fund (G)

CRISIL Liquid Fund Index#

CRISIL 1 Yr T-Bill Index##

1 year 6.60 6.66 5.853 years 7.46 7.45 7.115 years 8.09 8.12 7.151 month 0.53 0.53 0.382 weeks 0.24 0.24 0.161 week 0.15 0.18 0.14Since Inception (SI) : Upto December 31, 2017 8.32 8.06 6.90Value of investment of Rs.10000/- (SI) Rs.18,192.39 Rs.17,867.95 Rs.16,482.79FM Managing this Scheme since 3rd May 2017

IDBI Dynamic Bond Fund (IDBF) Inception date: 21st February, 2012


IDBI Dynamic Bond (G)

CRISIL Composite Bond Fund Index#


1 year 0.14 4.92 0.053 years 5.18 8.80 7.435 years 5.64 8.82 7.03Since Inception (SI) : Upto December 31, 2017 6.20 8.81 7.08Value of investment of Rs.10000/- (SI) Rs.14,223.80 Rs.16,400.25 Rs.14,929.16FM Managing this Scheme since 3rd May 2017

IDBI Gilt Fund (IGF) Inception date: 21st December, 2012


IDBI Gilt Fund (G)

CRISIL Gilt Index#


1 year -1.36 2.35 0.053 years 5.29 8.07 7.435 years 6.95 8.31 7.03Since Inception (SI) : Upto December 31, 2017 6.98 8.37 7.09Value of investment of Rs.10000/- (SI) Rs.14,038.20 Rs.14,973.18 Rs.14,107.86FM Managing this Scheme since 3rd May 2017

25

SCHEME PERFORMANCE - REGULAR PLANS (As on 31st December, 2017) (contd...)

IDBI Equity Advantage Fund (IEAF)Instalment amount: ` 10,000/-Frequency: Monthly

Investment date: 1st of every monthInception date: 10th September, 2013

Since Inception 3 years 1 yearTotal amount invested (Rs. in '000) 520 360 120Market value as on 31st December, 2017 (Rs. in '000) 800.55 456.71 138.36Scheme Return (% XIRR) 20.20 16.13 29.88Benchmark (S&P BSE 200 Index #) return (% XIRR) 15.81 16.52 26.07Additional Benchmark (S&P BSE Sensex##) return (%XIRR) 11.95 13.01 22.12

IDBI India Top 100 Equity Fund (IIT100 EF)Instalment amount: ` 10,000/-Frequency: Monthly

Investment date: 1st of every monthInception date: 15th May, 2012

Since Inception 5 years 3 years 1 yearTotal amount invested (Rs. in '000) 680 600 360 120Market value as on 31st December, 2017 (Rs. in '000) 1057.32 875.51 433.00 130.16Scheme Return (% XIRR) 15.51 15.13 12.40 16.24Benchmark (Nifty 100 Index #) return (% XIRR) 14.66 14.57 15.20 23.68Additional Benchmark ( Nifty 50 Index ##) return (%XIRR) 13.16 13.02 13.66 21.70

IDBI Diversified Equity Fund (IDEF)Instalment amount: ` 10,000/-Frequency: Monthly

Investment date: 1st of every monthInception date: 28th March, 2014

Since Inception 3 years 1 yearTotal amount invested (Rs. in '000) 460 360 120Market value as on 31st December, 2017 (Rs. in '000) 627.06 447.16 137.09Scheme Return (% XIRR) 16.38 14.64 27.73Benchmark (S&P BSE 500 Index #) return (% XIRR) 16.34 17.92 28.67Additional Benchmark (S&P BSE Sensex ##) return (%XIRR) 11.47 13.01 22.12

IDBI Nifty Index Fund (INIF)Instalment amount: ` 10,000/-Frequency: Monthly

Investment date: 1st of every monthInception date: 25th June, 2010

Since Inception 5 years 3 years 1 yearTotal amount invested (Rs. in '000) 910 600 360 120Market value as on 31st December, 2017 (Rs. in '000) 1405.24 816.43 435.19 132.66Scheme Return (% XIRR) 11.23 12.29 12.75 20.36Benchmark (Nifty 50 - Index TRI #) return (% XIRR) 13.09 14.39 15.04 23.17Additional Benchmark (Nifty 50 Index ##) return (%XIRR) 11.75 13.02 13.66 21.70

IDBI Nifty Junior Index Fund (INJIF)Instalment amount: ` 10,000/-Frequency: Monthly


Since Inception 5 years 3 years 1 yearTotal amount invested (Rs. in '000) 880 600 360 120Market value as on 31st December, 2017 (Rs. in '000) 1831.38 1050.29 504.11 140.46Scheme Return (% XIRR) 19.58 22.61 23.21 33.45Benchmark (Nifty Next 50 Index - TRI #) return (% XIRR) 21.91 25.28 25.90 37.40Additional Benchmark (Nifty 50 - Index ##) return (%XIRR) 11.91 13.02 13.66 21.70

# Scheme Benchmark ## Additional Benchmark as per SEBI Circular dated August 22, 2011.Past Performance may or may not be sustained in the future. Returns pertain to growth option under Regular Plan and the same have been computed using XIRR by excel spreadsheet function. XIRR helps in calculating return on investments based on cash flows that are uniform and regular monthly subscriptions. The Regular and Direct Plan of IDBI Mutual Fund have different expense structure.

SYSTEMATIC INVESTMENT PLAN (SIP) PERFORMANCE EQUITY FUNDS - REGULAR PLANS (As on 31st December, 2017)

Schemes Managed by Fund Manager (FM) - Mr. Bhupesh Kalyani Total Experience: Over 15 Years

IDBI Ultra Short Term Fund (IUSTF) Inception date: 3rd September, 2010


IDBI Ultra Short Term Fund (G)



1 year 5.82 6.70 5.85 3 years 7.17 7.47 7.14 5 years 7.86 8.13 7.16 Since Inception (SI) : Upto December 31, 2017 8.27 8.12 7.02 Value of investment of Rs.10000/- (SI) Rs.17,894.05 Rs.17,719.01 Rs.16,435.52FM Managing this Scheme since 1st February 2017.

IDBI Short Term Bond Fund (ISTBF) Inception date: 23rd March, 2011


IDBI Short Term Bond Fund (G)

CRISIL Short Term Bond Fund Index#


1 year 5.79 6.15 5.85 3 years 7.25 8.20 7.14 5 years 7.75 8.66 7.16 Since Inception (SI) : Upto December 31, 2017 8.18 8.68 7.19 Value of investment of Rs.10000/- (SI) Rs.17,034.00 Rs.17,581.70 Rs.16,002.55FM Managing this Scheme since 1st February 2017.

IDBI Corporate Debt Opportunities Fund (ICDOF) Inception date: 3rd March, 2014

Period

Returns (in %)IDBI Corporate

Debt Opportunities Fund (G)

CRISIL Short Term Bond Fund

Index#


1 year 5.30 6.15 5.85 3 years 7.59 8.20 7.14 Since Inception (SI) : Upto December 31, 2017 8.22 8.77 7.48 Value of investment of Rs.10000/- (SI) Rs.13,530.00 Rs.13,795.53 Rs.13,181.84FM Managing this Scheme since 1st February 2017. The Regular Plan of this scheme is in existance for a period less than 5 years.


IDBI Gold Fund (IGFOF) Inception date: 14th August, 2012


IDBI Gold Fund (G) Domestic price of physical Gold#

1 year 1.98 4.49 3 years 0.03 2.47 5 Years -2.97 -0.93 Since Inception (SI) : Upto December 31, 2017 -2.81 -0.61 Value of investment of Rs.10000/- (SI) Rs.8,580.80 Rs.9,674.55FM Managing this Scheme since 5th September 2017.

IDBI Gold Exchange Traded Fund (IDBIGOLD) Inception date: 9th November, 2011


IDBI Gold ETF (G) Domestic price of physical Gold#

1 year 4.21 4.49 3 years 1.81 2.47 5 years -1.73 -0.93 Since Inception (SI) : Upto December 31, 2017 -0.67 0.19 Value of investment of Rs.10000/- (SI) Rs.9,593.22 Rs.10,116.33FM Managing this Scheme since 5th September 2017.

# Scheme Benchmark ## Additional Benchmark as per SEBI Circular dated August 22, 2011.Past performance may or may not be sustained in the future. Returns pertain to growth option under Regular Plan. The returns are Compounded Annual Growth Returns (CAGR) for past 1 year, 3 years, 5 years & since inception period and annualised for the period below 1 year. The Regular and Direct Plan of IDBI Mutual Fund have different expense structure.

26

SCHEME PERFORMANCE - DIRECT PLANS (As on 31st December, 2017)

Schemes Managed by Fund Manager (FM) - Mr. V. Balasubramanian Total Experience: Over 36 Years

IDBI Equity Advantage Fund (IEAF) Inception date: 10th September, 2013


IDBI Equity Advantage Fund (G)

S&P BSE 200 Index#

S&P BSE SENSEX##

1 year 37.77 34.54 29.17

3 years 13.05 11.18 7.52


Value of investment of Rs. 10000/- (SI) Rs.28,340.00 Rs.20,154.30 Rs.17,030.89

FM Managing this Scheme since inception.The Direct Plan of this scheme is in existence for a period less than 5 years.

Schemes Managed by Fund Manager (FM) - Ms. Uma Venkatraman Total Experience: Over 15Years

IDBI India Top 100 Equity Fund (IIT100EF) Inception date: 1st January, 2013


IDBI India Top 100 Equity Fund (G)

Nifty 100 Index#

Nifty 50 Index##

1 year 31.45 32.40 29.95

3 years 11.67 10.06 8.48



FM Managing this Scheme since 5th September 2017.The Direct Plan of this scheme is in existence for a period less than 5 years.

IDBI Nifty Index Fund (INIF) Inception date: 1st January, 2013


IDBI Nifty Index Fund (G)

Nifty 50 Index-TRI#

Nifty 50 Index##

1 year 30.29 31.59 29.95

3 years 8.92 9.82 8.48




IDBI Nifty Junior Index Fund (INJIF) Inception date: 1st January, 2013


IDBI Nifty Junior Index Fund (G)

Nifty Next 50 Index-TRI#

Nifty 50 Index##

1 year 47.22 49.39 29.95

3 years 19.54 20.72 8.48





IDBI Diversified Equity Fund (IDEF) Inception date: 28th March, 2014


IDBI Diversified Equity Fund (G)

S&P BSE 500# S&P BSE SENSEX##

1 year 34.71 37.24 29.17

3 years 13.10 12.14 7.52




Scheme Managed by Fund Managers (FM) - Mr. V Balasubramanian (Equity Portion) - Total Experience: Over 36 Years &

Mr. Raju Sharma (Debt Portion) Total Experience: Over 25 Years

IDBI Prudence Fund (IPF) Inception Date: 24th October, 2016

Period

Returns (in %)IDBI

Prudence Fund (G)

50% S&P BSE 500 Index + 50% CRISIL Composite

Bond Fund Index

Nifty 50 Index##

1 year 24.97 20.13 29.95Since Inception (SI) : Upto December 31, 2017 20.23 13.27 17.45Value of investment of Rs.10000/- (SI) Rs.12,429.70 Rs.11,584.70 Rs.12,091.81Mr. V Balasubramanian (Equity Portion) since 24th October 2016 &Mr. Raju Sharma Managing this Scheme (Debt Portion) since 24th October, 2017

Scheme Managed by Fund Managers (FM) - Mr. Raju Sharma (Debt Portion) - Total Experience: Over 25 Years &

Ms. Uma Venkatraman (Equity Portion) - Total Experience: Over 15 Years

IDBI Monthly Income Plan (IMIP) Inception date: 1st January, 2013


IDBI Monthly Income Plan (G)

CRISIL MIP Blended Index#


1 year 5.40 8.41 0.053 years 5.90 8.88 7.43Since Inception (SI) : Upto December 31, 2017 7.17 9.40 6.87Value of investment of Rs.10000/- (SI) Rs.14,135.10 Rs.15,659.55 Rs.13,937.38Mr. Raju Sharma Managing this Scheme (Debt Portion) since 3rd May 2017 & Ms. Uma Venkatraman Managing this Scheme (Equity Portion) since 5th September 2017 The Direct Plan of this scheme is in existence for a period less than 5 years.

Schemes Managed by Fund Manager (FM) - Mr. Raju Sharma - Total Experience: Over 25 Years

IDBI Liquid Fund (ILIQF) Inception date: 1st January, 2013


IDBI Liquid Fund (G)



1 year 6.72 6.66 5.683 years 7.57 7.45 7.101 month 0.54 0.53 0.352 weeks 0.24 0.26 0.201 week 0.12 0.14 0.09Since Inception (SI) : Upto December 31, 2017 8.20 8.11 7.14Value of investment of Rs.10000/- (SI) Rs.14,829.27 Rs.14,774.21 Rs.14,118.17FM Managing this Scheme since 3rd May 2017The Direct Plan of this scheme is in existence for a period less than 5 years.

IDBI Dynamic Bond Fund (IDBF) Inception date: 1st January, 2013


IDBI Dynamic Bond (G)

CRISIL Composite Bond Fund Index#


1 year 1.59 4.92 0.05 3 years 6.14 8.80 7.43 Since Inception (SI) : Upto December 31, 2017 6.32 8.76 6.87 Value of investment of Rs.10000/- (SI) Rs.13,583.90 Rs.15,212.20 Rs.13,937.38FM Managing this Scheme since 3rd May 2017The Direct Plan of this scheme is in existence for a period less than 5 years.

IDBI Gilt Fund (IGF) Inception date: 1st January, 2013


IDBI Gilt Fund (G)

CRISIL Gilt Index#


1 year -0.16 2.35 0.05 3 years 6.12 8.07 7.43 Since Inception (SI) : Upto December 31, 2017 7.53 8.12 6.87 Value of investment of Rs.10000/- (SI) Rs.14,367.83 Rs.14,767.54 Rs.13,937.38FM Managing this Scheme since 3rd May 2017The Direct Plan of this scheme is in existence for a period less than 5 years.

27

SCHEME PERFORMANCE - DIRECT PLANS (As on 31st December, 2017) (contd...)

IDBI Equity Advantage Fund (IEAF)Instalment amount: ` 10,000/-Frequency: Monthly



IDBI India Top 100 Equity Fund (IIT100 EF)Instalment amount: ` 10,000/-Frequency: Monthly

Investment date: 1st of every monthInception date: 1st January, 2013

Since Inception 3 years 1 yearTotal amount invested (Rs. in '000) 600 360 120Market value as on 31st December, 2017 (Rs. in '000) 901.91 442.27 131.42Scheme Return (% XIRR) 16.34 13.88 18.31Benchmark (Nifty 100 Index #) return (% XIRR) 14.57 15.20 23.68Additional Benchmark (Nifty 50 Index ##) return (%XIRR) 13.02 13.66 21.70

IDBI Diversified Equity Fund (IDEF)Instalment amount: ` 10,000/-Frequency: Monthly

Investment date: 1st of every monthInception date: 28th March, 2014


IDBI Nifty Index Fund (INIF)Instalment amount: ` 10,000/-Frequency: Monthly


Since Inception 3 years 1 year

Total amount invested (Rs. in '000) 600 360 120

Market value as on 31st December, 2017 (Rs. in '000) 838.76 443.64 133.60

Scheme Return (% XIRR) 13.39 14.09 21.91

Benchmark (Nifty 50 Index - TRI #) return (% XIRR) 14.39 15.04 23.17

Additional Benchmark (Nifty 50 Index ##) return (%XIRR) 13.02 13.66 21.70

IDBI Nifty Junior Index Fund (INJIF)Instalment amount: ` 10,000/-Frequency: Monthly


Since Inception 3 years 1 year

Total amount invested (Rs. in '000) 600 360 120

Market value as on 31st December, 2017 (Rs. in '000) 1083.05 514.85 141.49

Scheme Return (% XIRR) 23.89 24.75 35.20

Benchmark ( Nifty Next 50 Index - TRI #) return (% XIRR) 25.28 25.90 37.40

Additional Benchmark (Nifty 50 Index ##) return (%XIRR) 13.02 13.66 21.70

# Scheme Benchmark ## Additional Benchmark as per SEBI Circular dated August 22, 2011.Past Performance may or may not be sustained in the future. Returns pertain to growth option under Direct Plan and the same have been computed using XIRR by excel spreadsheet function. XIRR helps in calculating return on investments based on cash flows that are uniform and regular monthly subscriptions. The Regular and Direct Plan of IDBI Mutual Fund have different expense structure.

SYSTEMATIC INVESTMENT PLAN (SIP) PERFORMANCE EQUITY FUNDS - DIRECT PLANS (As on 31st December, 2017)

MUTUAL FUND INVESTMENTS ARE SUBJECT TO MARKET RISKS, READ ALL SCHEME RELATED DOCUMENTS CAREFULLY.

Schemes Managed by Fund Manager (FM) - Mr. Bhupesh Kalyani Total Experience: Over 15 Years

IDBI Ultra Short Term Fund (IUSTF) Inception date: 1st January, 2013


IDBI Ultra Short Term Fund (G)



1 year 6.80 6.70 5.85 3 years 8.04 7.47 7.14 Since Inception (SI) : Upto December 31, 2017 8.48 8.13 7.15 Value of investment of Rs.10000/- (SI) Rs.15,016.76 Rs.14,774.21 Rs.14,118.17FM Managing this Scheme since 1st February 2017.The Direct Plan of this scheme is in existence for a period less than 5 years.

IDBI Short Term Bond Fund (ISTBF) Inception date: 1st January, 2013


IDBI Short Term Bond Fund (G)

CRISIL Short Term Bond Fund Index#


1 year 7.01 6.15 5.853 years 8.28 8.20 7.14Since Inception (SI) : Upto December 31, 2017 8.63 8.65 7.15Value of investment of Rs.10000/- (SI) Rs.15,120.49 Rs.15,132.59 Rs.14,118.17FM Managing this Scheme since 1st February 2017.The Direct Plan of this scheme is in existence for a period less than 5 years.

IDBI Corporate Debt Opportunities Fund (ICDOF) Inception date: 3rd March, 2014

Period

Returns (in %)IDBI Corporate

Debt Opportunities Fund (G)

CRISIL Short Term Bond Fund

Index#


1 year 6.55 6.15 5.853 years 8.62 8.20 7.14Since Inception (SI) : Upto December 31, 2017 9.21 8.77 7.48Value of investment of Rs.10000/- (SI) Rs.14,011.70 Rs.13,795.53 Rs.13,181.84FM Managing this Scheme since 1st February 2017.The Direct Plan of this scheme is in existence for a period less than 5 years.


IDBI Gold Fund (IGFOF) Inception date: 1st January, 2013


IDBI Gold Fund (G) Domestic price of physical Gold#

1 year 2.54 4.49 3 years 0.49 2.47 Since Inception (SI) : Upto December 31, 2017 -2.63 -0.97 Value of investment of Rs.10000/- (SI) Rs.8,753.18 Rs.9,526.35FM Managing this Scheme since 5th September 2017.The Direct Plan of this scheme is in existence for a period less than 5 years.

27

# Scheme Benchmark; ## Additional Benchmark as per SEBI Circular dated August 22, 2011.Past performance may or may not be sustained in the future. Returns pertain to growth option under Direct Plan. The returns are Compounded Annual Growth Returns (CAGR) for past 1 year, 3 years, 5 years & since inception period and annualised for the period below 1 year. The Regular and Direct Plan of IDBI Mutual Fund have different expense structure.

Mutual Fund investments are subject to market risks,read all scheme related documents carefully.

All India Toll Free No.: • SMS: •1800-419-4324 IDBIMF to 09220092200 www.idbimutual.co.in

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SAVE TAX

PARTICIPATE IN THE

EQUITY MARKET WITH A LOW

INVESTIBLE AMOUNT

UP TO

Rs.53,303*

*calculated assuming qualifying amount of deduction is Rs.1.50 lakhs and investor falls in the highest income tax slab

of 30% and include applicable cess 15% of surcharge is also applicable as income of the investor exceeds Rs.1 crore.

equity market overview - idbi mutual - january 2018-16... · equity market overview ... an employee...

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